It looks like Zoolander 2 is finally happening, after Paramount hired co-scribe of the first film, and Iron Man 2 writer Justin Theroux to pen a screenplay.
According to Deadline Hollywood, Paramount also want Jonah Hill as the bad guy, while Owen Wilson will be also be pursued to reprise his role as Hansel. Stiller's involvement is, of course, essential and he agreed to come back to his funniest character a while ago and should also direct.
One of the funniest films ever made? It's certainly up there anyway. Will Ferrell unforntunately doesn't look like he'll be returning - his Mugatu was a constant crack-up last time. Still, with everyone else coming back ten years later this could really be great.