Peyton Reed is returning to the MCU to direct Ant-Man 3, according to The Hollywood Reporter. Sources say it will likely be a 2022 release, after Doctor Strange in the Multiverse of Madness and Thor: Love and Thunder. This makes the third installment of the franchise a likely first film for Phase 5.
Reed first became involved with the Ant-Man franchise in 2014 after replacing Edgar Wright as director and continued to direct its sequel, Ant-Man and the Wasp. Both previous movies were well received by critics, and successful at the box office, taking home $519.3 million and $622.7 million dollars, respectively.
Paul Rudd is expected to return as titular superhero Scott Lang, a master thief who first became Ant-Man after stealing a super-suit from Dr. Hank Pym, played by Michael Douglas. Scott was last seen in Avengers: Endgame, which he played the pivotal role of introducing the quantum realm and the possibility of time-travel to the Avengers, allowing the team to collect the Infinity Stones from their own past.
After helping to defeat Thanos and his army, Scott returned to his life with his daughter Cassie Lang and his superhero partner Hope van Dyne, aka Wasp. There have been no additional details on what the next film in the series will entail yet.