For several months now, it has been a constant rumor that the latest franchise would revolve around an all female lead cast since it is "Bridesmaids" director Paul Fieg who is eyed to helm the film.

Other directors who were considered for the directing job include Ruben Fleischer along with Phil Lord and Chris Miller, according to Screenrant.

After a considerable amount of time, the director of the classic '90s film, Ivan Reitman, finally gave his side on why he passed on the third movie and chose to work on the script and produce the movie instead.

His exact explanation with in temrs of level of involvement in "Ghostbusters 3" was shared by Superherohype:

"I am very involved. I'm a producer of the film. I wasn't giving it all up. I suddenly felt that 'Ghostbusters' didn't necessarily need me as a director, at least I didn't need to direct 'Ghostbusters,' let me put it that way. Having done the other two and with the passing of Harold and with Bill Murray seeming disinterested in being in it, I thought it was better for me just to produce it and to make sure we're going to have the quality and style of what is appropriate for another version of that film. But the franchise could benefit from somebody else's point of view. I've done it twice before and it will be great to get somebody else to lend a hand as well."

His decision to step aside could be to give way to a fresher and more creative input to the latest movie installment so as to make it more fitting to the modern audience of today. But Reitman is also expected to base the upcoming "Ghostbusters 3" movie from the first two films in terms of "tone."

One of the film's original cast who is reprising her role in the third movie, Sigourney Weaver, shared several plot details during her conversation with Vanity Fair.

The 64-year-old actress who played the classic Dana Barrett role in the first two movies, confirmed that Reitman agreed to make her son part of the third flick. It can be recalled that he was part of the "Ghostbusters 2" film. This was the actress' condition before she consented to becoming a part of "Ghostbusters 3."

The final "Ghostbusters 3" cast remains unclear along with Bill Murray still not decided if he would come back. Other casting rumors involve names like Seth Rogen and Jonah Hill as new members though it isn't clear how all these will fit the alleged all-female cast of the sequel film.

Dan Aykroyd earlier shared with Slashfilm that they could start production by next year.