It's not looking good for fans of the 'Fantastic Beasts' franchise, as Warner Bros. are reportedly still on the fence about whether or not to continue the series.

The two planned 'Fantastic Beasts' sequels might not see the light of day. According to The Wrap, distributors Warner Bros. is still weeks, if not months, away from making a call on the two remaining sequels to 'The Secrets Of Dumbledore'.

Warner is likely weighing up their options about whether or not to move the franchise forward for two more cinematic entries - or scrap the franchise entirely. However, should that happen and Newt Scamander's prequel series stay buried in his magical suitcase forever, there will be other Wizarding World spin-offs that will come out of the woodwork.

According to The Wrap:

Warner is still several weeks, if not months, from deciding the fate of continuing the 'Fantastic Beasts' franchises, one of many choices that the studio will make as the Warner Bros. Discovery transition continues under CEO David Zaslav. But even if the plug is pulled, don’t expect the newly merged company to cut down on its larger plans to build the Wizarding World beyond Harry and his friends.

So, there you have it. Even if Warner decides to cast the "Obliviate" curse on us all and make us forget about the mixed-reviewed series, they will still plough on with other projects overseen by J.K. Rowling.

Warner's hesitation towards continuing with the two remaining 'Fantastic Beasts' sequels shouldn't come as too much of a surprise, especially considering how problematic the franchise's creator has been of late. Many 'Harry Potter' fans have been boycotting the newest film, 'The Secrets Of Dumbledore', due to the author's history of transphobic writings online.

This could be why the third entry on the prequel series debuted with the worst box office opening of the franchise. As of now, nearly two weeks since premiering in theatres, the blockbuster has only just matched its $200 million budget around the world. With interest in the franchise dipping with each new release, this could mean that it will be the first Wizarding World film to be a box office failure.

Last year it was reported that Warner Bros. was in the early stages of developing a HBO Max live-action TV series based in the world of 'Harry Potter'. The streamer previously hosted a reunion special 10 years on since the release of 'Deathly Hallows: Part 2', and also a quiz show overseen by Helen Mirren.