The Scream Franchise is finished - at least in its current guise.
Moviehole.com managed to get hold of a source within Dimension Films, who confirmed that the tenuously planned "second trilogy" was now highly unlikely after Scream 4 underperformed at the box-office. That's a real shame; the fourth film had a very sharp script, but you could tell it was interfered with. The films writer, and series creator, Kevin Williamson had the spec script he wrote changed during production, when the man who penned the sub-par Scream 3, Ehren Kruger, was brought back on board by Bob Weinstein to do rewrites. Wes Craven admitted on his twitter that he had no final say of the script and obviously did the best he could given the circumstances. The resulting film had real moments of wit and was generally a lot of fun; but it was far too long with too many characters while Emma Roberts was completely miscast. Hayden Panettiere was a revelation, though, and was the only new actor in the series who seemed to "get" what Williamson and Craven were trying to do with the film.
I loved the first two films - they were a big part of my teens - so i'm gutted with this news. I'm sure we can expect a reboot in 3 or 4 years.