From Where Legends Rule:
A huge piece of news today everybody... the webmaster over at Pendleton: UK received news from an insider over at Sony (who previously provided that site with pictures and trailers a few months back) that an Urban Legend 3 will definitely be going ahead. Although facts are very fleeting, apparently Sony will "not rush a movie sequel out at the cost of spoiling the series' reputation." Let's just hope that they can create another sequel as superior as Urban Legends: Final Cut.