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Insiders told the publication that "Ford v Ferrari" director James Mangold may take over the new installment, though the deal hasn't been finalized. Spielberg will remain as a producer of the upcoming action-adventure, however. It is currently not known whether "Indiana Jones" co-creator George Lucas will be involved in the project.
The Walt Disney Company first announced "Indiana Jones 5" in 2016. Spielberg was originally meant to direct the film, however, production delays pushed its initial 2019 release date to 2020 and then again to 2021 before he finally decided to step down.
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Disney execs told Variety that Spielberg's decision to remove himself was completely his decision.
Prior to his exit, Spielberg had a tight grip on the "Indiana Jones" franchise more so than his other cult franchises "Jaws" and "Jurassic Park."
Out of the four "Indiana Jones" films he’s directed, Spielberg has earned eight Oscar nominations. His last film, "Indiana Jones and the Kingdom of the Crystal Skull," raked in $790.6 million in the global box office with its 2008 release.
If Mangold ends up taking over, it will be the second time he has taken on a blockbuster franchise. He previously directed "X-Men's" final Wolverine movie "Logan," which marked Hugh Jackman's final appearance as the superhero and grossed $619 million globally.