The director of " Duece Bigalow: Male Gigalo" and "Sky High", Mike Mitchell, will be directing "Skrek 4". The script was written by Tim Sullivan.
Since the first two movies made over a billion dollars world wide it would make sense to try and drag out the franchise as long as possible but, since "Shrek 3" will most likely bomb. and it is being directed by the guy that did "Duece Bigalow" all cannot end well.
That being said, I will still be going to see "Shrek 3" when it comes out in theatres. :-)
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