'Gremlins 3' is "definitely" in the works.
Zach Galligan, who played Billy Peltzer in the first two movies in the franchise, has confirmed Warner Bros. are well up for the motion picture and he insists filmmaker Chris Columbus is "aggressively working" on the forthcoming film.
He said: "He has been aggressively working on a 'Gremlins 3' that takes place in present day. He tantalisingly says there will be some new characters and some old characters - I guess in the style of a 'Force Awakens' type sequel - One thing we know for sure is they have a writer on board.
"Warner Bros definitely wants it, Chris Columbus wants to do it because he'd like to undo the 'Gremlins 2' thing as he wasn't thrilled with it and Spielberg wants to do it I imagine - because he's Spielberg - and why wouldn't he want to do it.
"Once he's found the right script he can attach his name and make a ton of money. Not that there's anything wrong with that."
Galligan insists Columbus "regrets" not working on 'Gremlins 2' but he has since "wrestled control back" on the third movie in the franchise.
He added to Bleeding Cool: "I think you can tell what's happening with 'Gremlins 3' the same way you could tell with 'Gremlins 2'.
"It's the same people and they tend to work the same way. There is a huge time gap but it's Warner Bros, Spielberg and Chris Columbus.
"Now, Chris Columbus didn't have anything to do with 'Gremlins 2' - because by his own admission he didn't see a franchise.
"He kind of regrets it I believe, but he was 'one and done' I don't think he cared for 'Gremlins 2' and the direction some of the characters went in, so he's kind of wrested control back.
"Everything I'm quoting is stuff he's publicly said, 'There will never be a remake, there will never be a reboot there will only be a sequel.' "
The original comedy horror movie - which also starred Phoebe Cates and Corey Feldman - was released in 1984 and saw Galligan's young character receive a strange created called a mogwai which spawns evil monsters.
'Gremlins 2' dropped in 1990 and told the story of the creatures' return as they take over a media mogul's building.
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