THR is reporting that the long rumored Space Jam 2 is definitely on the way, and that along with director Justin Lin almost definitely coming on board to helm the film (he’s best known for the Fast & Furious franchise, but also directed the upcoming Star Trek Beyond), but they are also in talks with LeBron James who has already signed a media deal with Warner Bros.
As to whether or not the world needs a sequel to Space Jam? The answer is probably not, but China is going to eclipse the US as the #1 most important movie market this year and Loony Toons and the NBA are both big hits over there. There’s no way that Warner Bros would pass up on that opportunity.