Tom Cruise will star in and produce the fifth installment and is expect to shoot the movie in the fall after filming Warner Bros. Pictures' The Man From U.N.C.L.E..
The trade adds that Christopher McQuarrie (Jack Reacher) is in discussions to direct the film.
The film will be developed by Cruise, Paramount and J.J. Abramsí Bad Robot, who served as producers on previous films in the hit series. Skydance Productions, who served as co-financers and executive producers of the last installment, will work closely with the team in the development and production process.
The 4th installment in the globally successful franchise Mission: Impossible - Ghost Protocol, earned nearly $700 million around the world and became Cruise's highest-grossing film to date.