Previously said to be a reboot, now it's being stated that the new Underworld will be an expansion of the existing universe with Theo James in the lead.
THR reports that the new Underworld will be the fifth film in the franchise focusing on Theo James' vampire character, David, from 2013's Underworld: Awakening.
It's also said that Theo James will star opposite two new female characters with casting underway and plans to start filming the new Underworld this Spring.
It was previously reported that Cory Goodman (Priest, The Last Witch Hunter) is writing the script.
Theo James recently starred in Divergent.
The first Underworld film debuted in 2003 with Kate Beckinsale playing the vampire Selena which spawned three movies that have brought in close to $500 million worldwide.