Is the third Hangover a little over a year away?

After a disappointing sequel last year, yet still making a boatload of cash, we haven’t seen too much of a development in the terms of The Hangover: Part III. Last time, Bradley Cooper said that filming could being this fall, while the script changed up the formula completely from the first two films. Now, it seems the film may be coming a bit earlier as Cooper and his two cast mates are reportedly close to a deal with the studio for their salary on their return.

THR reports that Cooper, Ed Helms, and Zach Galafianakis banded together, and asked the studio for $15 million each to reprise their roles for the upcoming sequel. Reportedly, Warner Brothers will likely give them the money, which will be three times each actor’s paycheck for the second installment. Then again, both films so far have grossed more than $1 billion worldwide combined, so $15 million seems like chump change in comparison.

It’s said that the story this time will be Los Angeles based, so production may not cost too hefty of a price as much as Las Vegas and Bangkok did. In a surprising turn, however, it’s said the studio hopes the next film will begin production this summer for a release next Memorial Day.

One insider says, “It’ll happen”, though how director Todd Phillips and writer of the script Craig Mazin feel about this is completely up in the air.

Warner Brothers declined to comment on the story, which means they most likely don’t want to interrupt the negotiations with the trio’s agency, who also declined to comment.

If the series does end in 2013, it would be Warner Brothers’ third billion dollar franchise out the door in three years, following Harry Potter‘s farewell in 2011, and the Nolan-Batmansend off this July.