'Bad Boys 3' in the works

August 30, 2009 Columbia Pictures is developing a third installment of the high-octane "Bad Boys" franchise, tapping Peter Craig to pen the screenplay. The hope is to have a script that would reunite director Michael Bay, producer Jerry Bruckheimer and stars Will Smith and Martin Lawrence. The first "Boys," released in 1995, helped launch Bay as a director and Smith as an action star even though it was not a fire-stamped blockbuster -- it grossed $66 million domestically and $141 million worldwide.

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