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'Mission: Impossible 5' Release Date, Latest News: Sequel Rescheduled for This Summer

Paramount's next big screen offering "Mission Impossible: 5" has a new release date and reports indicated that the upcoming title will open in theaters this summer.

The studio is moving the outing date of the fifth Tom Cruise-led installment on July 31st this year instead of late 2015, according to The Hollywood Reporter.

The new schedule will put the movie far from the other two anticipated blockbuster titles like James Bond film (Spectre), which is by the way slated to hit the cinemas on Nov. 6, and with J.J. Abrams' "Star Wars Episode VII" that is also already reported to open in Dec. 18.

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Meanwhile, the forthcoming globe-trotting screen adventure will now face opening weekend competition with Jake Glyllenhaal's boxing drama "Southpaw" which also saw an earlier rescheduling.

The popular espionage thriller is being directed by "Jack Reacher" director Christopher McQuarrie and will see the return of actors Ving Rhames as Luther Stickell, Simon Pegg as Benji Dunn, and Jeremy Renner as William Brandt.

Fans of the franchise will also be introduced to new cast members Alec Baldwin who will play as the head of the CIA while Chinese actress Zhang Jingchu was also cast for a major role in the film.

Deadline.com also reported that "The Borgias" star Sean Harris was announced to be involved in the project as its main villain.

Little has revealed about the film, although earlier speculations suggest that the title will once again feature different parts of the world. Cast members were spotted in Vienna and Morocco.

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