Keanu Reeves is in negotiations to star in a new LEGO movie from Toy Story 4 director Josh Cooley, reports Deadline. According to Deadline’s sources, the film would be a hybrid of animation and live action.

For its part, Universal has not commented on the topic.

Universal picked up the rights “to develop, produce, and distribute theatrical releases based on [LEGO] intellectual property and original ideas” way back in 2020 but, so far, nothing has eventuated from the deal. Back in late 2024 it was reported a trio of projects were in the pipe at the studio, but there remains nothing to show for it on the big screen.

LEGO previously partnered with Warner Bros. for its big-ticket films. The two original LEGO Movies, plus The LEGO Batman Movie and The LEGO Ninjago Movie, all remain a part of the WB library.

Should a deal be struck, the project would represent a reteaming for Reeves and Cooley, since Reeves featured in Toy Story 4 as the character Duke Caboom.

Reeves recently reprised his role as Duke Caboom in the newly released Toy Story 5, which has galloped to a huge $312 million global box office haul. It makes Toy Story 5 the biggest opening weekend of 2026, and the biggest opening weekend in franchise history (not adjusted for inflation).

Luke is a Senior Editor on the IGN reviews team. You can track him down on Bluesky @mrlukereilly to ask him things about stuff.