'Fast & Furious' Studio, Stars Respond To Paul Walker’s Death; What Will Happen With ‘Fast & Furious 7’?

In the wake of actor Paul Walker’s death, Universal Pictures, the studio behind his popular film franchise, “Fast and Furious,” has released a statement regarding the 40-year-old actor:

"All of us at Universal are heartbroken. Paul was truly one of the most beloved and respected members of our studio family for 14 years, and this loss is devastating to us, to everyone involved with the 'Fast and Furious' films, and to countless fans. We send our deepest and most sincere condolences to Paul's family."

Paul Walker passed away on Saturday, Nov. 30, after he was involved in a grisly single-car accident. TMZ initially reported the accident, stating that the actor was in Santa Clarita for a charity event when the Porsche he was in lost control and hit a tree or pole. The vehicle then burst into flames.

“The Lost Angeles County Fire Department responded, extinguished the fire and subsequently located two victims inside the vehicle,” the police said in a statement to People about the fatal accident. “The victims were pronounced dead at the scene.”

Initially believed to be a death hoax due to a satire site called MediaMass.net, Paul Walker’s official Facebook page confirmed his death late Saturday evening. The following message was posted:

“It is with a truly heavy heart that we must confirm that Paul Walker passed away today in a tragic car accident while attending a charity event for his organization Reach Out Worldwide. He was a passenger in a friend's car, in which both lost their lives. We appreciate your patience as we too are stunned and saddened beyond belief by this news. Thank you for keeping his family and friends in your prayers during this very difficult time. We will do our best to keep you apprised on where to send condolences. - #TeamPW”

Paul Walker was best known for his role as Brian O’Conner in 2001's “Fast & Furious.” At the time of his death, the actor was in the middle of filming “Fast & Furious 7” for a July 2014 release date. Walker’s co-stars took to Twitter to comment on his unexpected and shocking death:

Since the passing of Walker’s death, many fans have been wondering about the fate of “Fast & Furious 7.” The film is reportedly about Owen Shaw’s brother, Ian, exacting revenge on Dominic Toretto and his crew. According to HollywoodLife.com, a source revealed that the movie will likely continue in his honor.

“Many people within the production haven’t even heard the tragic news because of the holidays, but it’s almost positive that the movie will still move forward in his honor,” the insider stated. “Once people get back to work on Monday, many meetings will be happening.