"Many of the ideas Lilly [Wachowski, Lana's sister] and I explored 20 years ago about our reality are even more relevant now,” said Wachowski. “I’m very happy to have these characters back in my life and grateful for another chance to work with my brilliant friends.”

Wachowski is producing the film together with Grant Hill. The screenplay is by Wachowski, Aleksandar Hemon and David Mitchell.

The Matrix, written and directed by the Wachowskis, was released in 1999 and was seen as revolutionary in its idea of reality, metaphors in anti-authority and, of course, action scenes that introduced “bullet time.” The initial movie was not just a box office smash but a critical hit and was followed by two sequels, 2003's The Matrix Reloaded and The Matrix Revolutions. While those movies also raked it in at the box office, it was diminishing returns for audience loyalty and reception.

Warners, in search of so-called safe and branded franchises to which it could return to, had in recent years considered prequels and spinoffs, including ones that involved Michael B. Jordan and screenwriter Zak Penn.

In addition, Joel Silver produced the original trilogy, but the studio’s latest announcement did not include his name. The infamous producer had a longtime deal with Warner Bros. when those movies were made but has since severed ties. It is unclear whether or not any contract conditions will cause him to return.

Wachowski is repped by WME, Circle of Confusion and Lichter Grossman; Reeves is with WME and Ziffren Brittenham; and Moss is repped by WME, Elizabeth Hodgson and attorney Bob Lange.