Variety has learned that DreamWorks Pictures is moving forward on its third installment of "The Ring." No writer is on board, but producer Walter Parkes has confirmed that The Ring 3 is being developed and that the new film will be made on a smaller scale than the first two.
Those films, both of which starred Naomi Watts, were in the $60 million range, adds the trade. Watts will likely not star this time around.
The Ring, released in 2002, grossed $129 million domestically. The Ring 2, which was released earlier this year, took in $75 million.
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