The Strause brothers, who directed Aliens vs. Predator - Requiem, had originally stated that Fox intended to take a "wait-and-see" approach to deciding if a third film would happen. Apparently, the film's $128.8M world-wide box-office, along with it's upcoming DVD release on April 15, were acceptable enough for Fox to greenlight a third film.
The Strause brothers originally stated that the third film would have to continue in space, however since it is unclear at this point if they will return to the franchise, it is possible that this could change once a final script is approved for the film.
The Alien vs. Predator films combine two of 20th Century Fox's most famous monsters - the xenomorphs who were introduced in Alien, and the Yautja, who were introduced in the Arnold Schwarzenegger starring Predator. The two extraterrestrial creatures are natural enemies, and humanity may prove to be the biggest casualty in their war.
Alien Vs. Predator was released August 13th, 2004 and stars Sanaa Lathan, Raoul Bova, Lance Henriksen, Ewen Bremner, Colin Salmon, Tommy Flanagan, Joseph Rye, Agathe de La Boulaye. The film is directed by Paul W.S. Anderson.