After the tragic death of star Paul Walker this past weekend, Universal is pumping the brakes on the partially completed "Fast & Furious 7."

The studio announced today that they will shut down production on the sequel, which was taking a break after completing the first phase of shooting in Atlanta and L.A. They will now decide how to proceed on the expected blockbuster. 

The official statement says:

"Right now, all of us at Universal are dedicated to providing support to Paul's immediate family and our extended Fast & Furious family of cast, crew and filmmakers.   At this time we feel it is our responsibility to shut down production on Fast & Furious 7 for a period of time so we can assess all options available to move forward with the franchise.  We are committed to keeping Fast & Furious fans informed, and we will provide further information to them when we have it.  Until then, we know they join us in mourning the passing of our dear friend Paul Walker."  

"Fast & Furious 6" also stars Vin Diesel, Michelle Rodriguez, Chris Bridges, Dwayne Johnson and newcomer Jason Statham. Meanwhile, "Fast & Furious 6" hits DVD and Blu-ray on December 10.

Jordana Brewster and "Fast and Furious" director Justin Lin react to Walker's death.

Officials: Speed was a factor in Paul Walker car crash

Commentary: Thoughts on Paul Walker's death and how we deal with celebrity death

Some proceeds from "Fast and Furious 6" DVD/Blu-Ray sales will go to Paul Walker-founded charity