Stiller prepping ZOOLANDER 2 - Theroux will direct, Jonah Hill in talks

Tropic Thunder and Iron Man 2 writer Justin Theroux has been brought on by Ben Stiller and Paramount to direct the long overdue sequel to Zoolander, the 2001 cult classic Stiller wrote, produced, directed and starred in, opposite Owen Wilson.

Theroux and Stiller are working on the Zoolander 2 script together, which is being tailored for a PG-13 rating. The first cut of the original was rated R, but managed to pull off a PG-13 rating by the skin of its teeth with some slick editing. Theroux will being doing some research soon as well, going to Fashion Week in Paris to "immerse himself on what is current in fashion."

Stiller will once again star as Derek, and I'm guessing the family ties will have his dad Jerry Stiller, and his real life wife Christine Taylor returning to reprise their roles as well. The reunion we're all crossing our fingers on though is of Derek and Hanzel, but a deal with Owen Wilson has yet to be set.

Stiller may also reunite with his Night at the Museum 2 co-star, Jonah Hill, who's in negotiations to star likely as the villain. From what I hear their scenes together in Night at the Museum were the best (or only good) parts of that film.

I couldn't be more excited about seeing a sequel to this, especially with Theroux on board. Can you imagine the kind of cameos they could have in this? Not to mention we're n a whole new technological age ready for some ripping -- the iPod wasn't released until a month after the film came out. But the magical comedy piece that they can't replace in the puzzle is that of Zoolander co-creator and co-writer, the late great Drake Sather.

The only problem they're having with development right now is no one is sure what the sequel is capable of, since the first film only earned $45M domestic and $16M international, due to the September 28, 2001 theatrical release, right after 9/11. Paramount wants to keep the budget below $50 million, and they're discussing some upfront reductions in exchange for bigger upsides.

What do you think of a ZOOLANDER 2 being developed? What do you think of Theroux directing?

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