We reported in April that the studio was moving ahead with the sequel, just days after G.I. Joe Retaliation opened with $132 million worldwide in its first few days of release. The sequel has earned $365 million worldwide over its full theatrical run.
What isn't quite clear yet is who will be writing G.I. Joe 3. Rhett Reese and Paul Wernick wrote G.I. Joe Retaliation, but it is not known if they are in talks to return. No cast members have been locked in yet, but, given the success of G.I. Joe Retaliation, don't be surprised if Dwayne Johnson, Channing Tatum, and the rest of the Joes sign up for another mission.
Jon M. Chu is also attached to Masters of the Universe at Universal, but there hasn't been much motion on that project for some time now.