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According to Variety, the actor has agreed a deal with the studio to revive the role for the 2011 superhero project and Iron Man 3.
The Avengers will feature characters Captain America, Thor and The Hulk as well as Iron Man.
Don Cheadle, who recently confirmed that he is replacing Terrence Howard in Iron Man 2, is also onboard with the project.
Iron Man director Jon Favreau will serve as executive producer on the movie.
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