In a surprising move, Disney has decided not to move forward with Tron 3.
Garett Hedlund, Olivia Wilde and director Joseph Kosinski were all set to return for the third installment, said to be titled "Tron: Ascension," which was to begin filming this Fall in Vancouver.
According to THR, Tron 3 was not officially greenlit (which seems odd as Olivia Wilde recently spoke about the movie offering her character was going to be put in the real world).
The report mentions no specific reason why Tron 3 was cancelled, but the report and various Hollywood trade sites are suggesting Tron 3 may not be moving forward because of the underperformance of Tomorrowland in addition to Tron: Legacy not being a big merchandise seller. Instead, Disney appears to want to concentrate on their animated movies and big tentpole films.
It's also said Jared Leto and Olivia Munn were wanted for roles at one point, though no official offer or negotiations took place.
2010's Tron: Legacy grossed over $400 million at the box office at a budget of $170 million.