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An industry insider has informed Nuke The Fridge that the sequel to “G.I. Joe:  The Rise of Cobra” will not be a sequel at all, but a reboot of the entire Hasbro licensed property. This one is set to be loyal to the 80’s cartoon.

The first film cost $175 million to produce and grossed $300 million worldwide.  It was inevitable a another one would be in the works.

“Zombieland” writers Rhett Reese and Paul Wernick have been hired to pen the script, which promises to be more loyal to the source material.  They will be busy, because they are also writing the Deadpool script for 20th Century Fox.

News for some fans, director Stephen Sommers won’t be back for number two.  He was fired after the shooting of the original G.I. Joe was completed.  At this time, Paramount is in the market for a director.

The question is, will the actors return from the first film or will there be an entirely new lineup?  (The original film’s cast has a sequel clause in their contract.)

The planned Joe movie is scheduled for a 2012 summer release. Let’s hope this it true!!!