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Third "47 Meters Down" Film in the Works

"47 Meters Down: The Wreck" is on the market at this year's Cannes Film Festival.

We're heading down deep into the ocean once more as Johannes Roberts and Ernest Riera, the minds behind the 47 Meters Down films, announce a third instalment in their popular shark series.

Patrick Lussier is set to direct 47 Meters Down: The Wreck, which - as per Deadline - will be a father/daughter story about the two rebuilding their relationship as they scuba dive through a famous shipwreck.

Deadline shares that "soon after their descent, their master diver has an accident leaving them alone and unprotected inside the labyrinth of the wreck. As tensions rise and oxygen dwindles, the pair must use their newfound bond to escape the wreck and the relentless barrage of bloodthirsty great white sharks."

47 Meters Down: The Wreck will hit the Cannes Film Festival market with FilmNation as the sales agent.

Production is eyeing a fall shoot, with casting yet to be announced.

The first two films in the series have been low-budget with high returns at the box office. The film that kicked it off in 2017, 47 Meters Down, was made on a $5.3 million budget, raking in $62.1 million at the worldwide box office. Its 2019 counterpart, 47 Meters Down: Uncaged, landed $47.5 million from its $12 million budget.

As per Deadline, the series creator Johannes Roberts said, "We can't wait for audiences to be trapped underwater with us again" and revealed that this new instalment "is going to be the biggest, most-intense film of this franchise."