The Breaking Bad movie would mark Gilligan's first project to stem from the new three-year deal he signed with Sony in July. Given the format, a prequel wouldn't make a lot of sense (particularly when SPT could score another extended win like Better Call Saul with another spin-off) so it could be that we're looking at the possibility of the return of Bryan Cranston's Walter White and Aaron Paul's Jesse Pinkman.
Breaking Bad fans, we're here to break some good news.
The Albuquerque Journal have also reported that shooting will begin in the New Mexico city - where the original show was set and filmed - later this month, and is set to continue through to early February.
If you need to catch up on Breaking Bad and Better Call Saul (or re-watch them for the 10th time), all of the episodes are streaming on Stan.
On that front, the fact that The Albuquerque Journal are reporting that the movie will come with a logline saying it "tracks the escape of a kidnapped man and his quest for freedom", which very much seems to follow Jesse's story. "For years we've built up the film industry in New Mexico and strengthened our film incentives, now we're seeing success after success for the film industry in our state".
The sources say that Gilligan may direct the movie, and he'll be writing it as well as executive producing.
Breaking Bad, which starred Bryan Cranston as chemistry teacher Walter White who turned to cooking meth after getting diagnosed with cancer, became a breakout hit for AMC and ran for five seasons from 2008 to 2013.
Details are sparse, with no information on what shape the movie would take - a prequel like "Better Call Saul" or something else - or whether any of "Breaking Bad's" stars will return.