• Actors Owen Wilson and Jackie Chan posed for photos at the premiere of "Shanghai Knights" at the El Capitan Theatre on Feb. 3, 2003 in Los Angeles, California.

Actors Owen Wilson and Jackie Chan posed for photos at the premiere of "Shanghai Knights" at the El Capitan Theatre on Feb. 3, 2003 in Los Angeles, California. (Photo : Getty Images/Kevin Winter)

Jackie Chan and Owen Wilson are reteaming for a new "Shanghai Noon" sequel called "Shanghai Dawn." "Napoleon Dynamite" director Jared Hess is on board to helm.

According to The Hollywood Reporter, MGM has started developing the third entry in the action-comedy series entitled "Shanghai Dawn." The details are being kept under wraps. The story is from the writer Miles Millar and Alfred Gough. To recall, they wrote Shanghai Noon (2000) and Shanghai Knights (2003). Theodore Riley and Aaron Buchsbaum wrote the script for the upcoming third movie.

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The original movie "Shanghai Noon" was directed by Tom Dey, as Variety reported. It followed Chan's character Chon Wang. His character is an Imperial Guard who was forced to team up with an outlaw Roy O'Bannon (Wilson) to save a Chinese princess. The movie turned out to be a surprise hit, grossing $99 million worldwide. It led to the London-set sequel "Shanghai Knights." The second film had a similar plot and is directed by David Dobkin. However, it underperformed at the box office, earning $88 million.

Wilson worked with Hess recently in the upcoming heist comedy "Masterminds." He plays the night guard Steve. This film also stars Zach Galifianakis (David Ghantt), Kristen Wiig (Kelly), and Jason Sudeikis (Mike McKinney). It has been long-delayed movie several times due to Relativity's bankruptcy woes. It will be released in the U.S. on Sept. 30.

On the other hand, Chan is recently reported that he would be receiving an honorary Oscar at the Academy's 8th Annual Governors Awards set to be held in November. He will be awarded for his extraordinary achievements in dozens of martial arts films in his native Hong Kong. He also had huge international success with hits. He is also a writer, director, producer, and choreographer in many of his films in addition to starring and performing his own stunts.

On the TV side, director Hess recently directed the pilot of Fox's time-travel comedy "Making History" from executive producers Chris Miller and Phil Lord. He also directed episodes of "The Last Man on Earth" and "Son of Zorn."

Spyglass Entertainment is producing the third upcoming "Shanghai Dawn." Millar and Gough will executive produce it.

Watch the video of "Shanghai Noon" 3 moving forward: