Is Neo returning to the big screen? According to new rumors, the Wachowski siblings Andy and Lana are hard at work on a prequel trilogy to the popular "Matrix" franchise.

Latino Review broke the news of the new "Matrix" prequels in a recent story. "We've been told that the Wachowskis have already started the writing process with early treatments and outlines already turned into the studio. No word if they will want to direct but my money says 'Claro que Si!'...Warner Bros. is desperate for a surefire franchise and will be making a push to have the new Matrix films ready to up against any new Star Wars and Avatar films by 2017," wrote Latino Review.

The first "Matrix" came out in 1999 to terrific reviews and an even better box office of $171 million domestically. The success of the first film, coupled with its revolutionary "bullet time" visual effects, not only spawned an era of copycats, but another two sequels in the franchise.

"The Matrix Reloaded" came out in the summer of 2003 and grossed $281 million while the third installment (or really the second part of "Reloaded") "The Matrix Revolutions" flopped critically and financially; the film brought in a franchise-low $139 million despite a November release. More importantly, the two sequels seemingly damaged the legacy of the original; many critics and fans felt the additional installments convoluted the originality of the first film's concept.

The big question of course is why make a trilogy now after the failure of the last films? In an age when prequel trilogies are the norm this should not come as a surprise. But the difference here is that other prequel trilogies have come as a result of previous successes. Peter Jackson's choice to make a prequel trilogy of "The Hobbit" came after "The Lord of the Rings" won 11 Academy Awards. George Lucas' decision to do the same with "Star Wars" came because of the positive reception for the original three films (even though people still had problems with "Return of the Jedi").

People hated the last two "Matrix" movies and if "Star Wars" and "The Hobbit" prequels have shown the world anything, it is that even the good stories wear out their welcome after a while. "The Matrix" movies had seemingly burnt out back in 2003, so why would they suddenly become relevant in 2017?

The other major issue is the Wachowskis themselves. After directing "The Matrix," the siblings have failed to consistently put out great films. "V for Vendetta" was terrific, but was not directed by the siblings. "Cloud Atlas" was also a compelling film, but was not universally loved, and they also had another director on hand to collaborate with. "Speed Racer" was a disaster critically and financially.

Another interesting variable to consider is why this is likely happening in the first place. Warner Bros. is in a crisis at the moment from a franchise standpoint. "Harry Potter" sustained the company creatively for a decade. Christopher Nolan's "Dark Knight" trilogy was also a huge financial boon for the company. Since those two franchises have ended, the studio has struggled to find compelling sequels to bank on the way that Disney has.

While successful, "The Hobbit" prequels have not been as financially viable as the original "Lord of the Rings" -- the recent "Hobbit" was the lowest grossing film in the franchise. The final film comes out this winter, leaving Warner Bros. without any more films to count on in the franchise. "Man of Steel" was far from the financial masterstroke many hoped as the film failed to make more than $300 million domestically (the last "Dark Knight" movie made well over $400 million and its predecessor topped the $500 million mark); the decision to add Batman in the sequel is nothing more than a desperate attempt to up the popularity of that franchise. With Disney getting ready to re-launch "Star Wars," Warner Bros. needs a franchise to compete.

So this would indicate that Warner Bros. is desperate for a new franchise and has decided to turn to an old war horse in "The Matrix" franchise. But is this really a bold move? Or is Warner Bros. setting itself and the Wachowskis up for more failure?