''Deadpool 3'' in the works at Marvel, says Ryan Reynolds

Los Angeles: Hollywood star Ryan Reynolds has confirmed that the third installment in his "Deadpool" franchise is in the development at Marvel Studios.

The 43-year-old actor made the revelation during an appearance on a holiday edition of "Live With Kelly and Ryan".

"We're working on it right now with the whole team. We're over at Marvel, which is the big leagues all of a sudden. It's kind of crazy," Reynolds said.

The foul-mouthed superhero was one of the few Marvel comic characters not owned by Disney, but after Fox's merger with the industry giant, Deadpool has become a Marvel Studios property.

According to Variety, Fox film's former president of production, Emma Watts, who was part of the first two films, will no more oversee the franchise.