THR:
The planned sequel to one of the biggest comedies of the 1990s has been in the works for years at New Line Cinema. But now sources tell The Hollywood Reporter that New Line parent Warner Bros. is declining to move forward and will allow the project be shopped to other studios.
Personally I wouldn't see it as a great loss if it never got done.
well that blows lol, kind of wanted to see the sequal happen.