It's been a rollercoaster ride for fans of Disney's beloved franchise.
After the Tracking Board had the Internet buzzing with news that a third installment to The Princess Diaries franchise was confirmed (with Debra Chase, producer for the two previous movies, signed on to boot), fans all over the world were crying tears of joy. And with Heather Materazzo, Anne Hathaway's co-star in the previous films, tweeting "well here is some good news for #PrincessDiaries fans" with a link attached (the headline: "Shut Up! 'Princess Diaries 3' Is Actually Happening"), no one could deny that all signs were pointing to - yes, it's really happening.
But of course, all good things must come to an end. Immediately after the sequel was all but confirmed to happen, a source close to Disney dropped another bomb - that no, The Princess Diaries 3 is not happening.
Apparently, there were discussions about a possible sequel, but nothing came out of that meeting. It has no screenwriter, the studio wasn't developing it, and, as of now, there is no script for the film. Not even Hathaway has confirmed her attachment to any possible sequels (the source, and even Julie Andrews, the Queen herself, think it's unlikely that Hathaway will reprise her role as Mia Thermopolis).
Unfortunately, all we can do now is wait for an official announcement from Genovia.