CotT2 - Kraken's Revenge?

On Tuesday, Deadline gave the following news on the announcement of a sequel to the remake of Clash of the Titans:


Warner Bros and Legendary Pictures are moving ahead with a sequel to Clash of the Titans, which the studio would like as early as spring, 2012. But they will make the journey without Louis Leterrier, who will not return for an encore as director. Sam Worthington will return, as well as most every other character that survived. Greg Berlanti will write the story and the studio is already canvassing the agencies for a writer and director who can whip the movie into shape  to shoot before Worthington makes Avatar 2. Leterrier will remain peripherally involved as executive producer. It isn't unheard of for the original director of a big hit film to drop off the sequel--Doug Liman on The Bourne Identity comes to mind--and insiders swear that the Leterrier move was harmonious and are saying he wasn't of a mind to rush into another installment of Greek mythological mayhem. The original has grossed around $390 million, on a $120 million budget with no real gross outlay. By the time it's done, Clash will be one of the year's biggest hits.


Are they serious?  I mean, April Fool's has been and gone right?  The remake was awful, the critics panned it yet many people have gone to see it and it has made a mountain of cash for Warner Bros!  If they are doing this this then I seriously hope they are not going to make this in 3D (which they more than likely are) as the remake was absolutely awful in 3D.


Well, I think I know one movie I will not be paying to see in 2012...


"This concludes our broadcast day..."