JoBlo has the scoop...
The following is an excerpt from Will Ferrell Says Zoolander 2 Script Read Is Happening Soon
A month ago, we heard that things might be heating up again with ZOOLANDER 2. There's a script that's done and it's up to the studio now to see if they think this thing will make any money, I suppose. However, it looks like this is one step closer to a reality as Will Ferrell recently made mention of a read-through that should be happening in the near future.
This is what Mr. Ferrell had to say:
"We are actually supposed to do a read-through of a sequel script soon, and Mugatu is a part of it."
The New York Post tells us more...
The following is an excerpt from Will Ferrell Says Mugatu Will Appear In Zoolander 2
The Zoolander sequel has had a couple of false starts.
In December, Stiller said the project was on hold because they wanted to get it right.
“There’s a script we like, but I don’t want to force it, because people who love that movie really love it, so I want to make sure we do the sequel the right way,” he said. “Mike Myers did it well with the Austin Powers movies — they were all funny, and very ‘of their time’. And Zoolander is ‘of its time’, too, so it’s about how we could bring it up to date, to the present day.”