Considering the failure of his last attempt at kick-starting a new franchise with the terrifyingly misguided Guru Pitka in The Love Guru, it’s no surprise Myers would go back to the well to rebuild some audience goodwill.
As Deadline reminds us, New Line offered Myers the opportunity to work on a fourth Powers‘ film back in 2008. At the time it was reported he and collaborator Mike McCullers had begun working on the script, which would focus primarily on Dr. Evil and his relationship to his son Scott (Seth Green).
According to the Deadline report, New Line sent Myers’ representatives a new deal six months ago. It is that deal which Myers has finally signed up for, hence the renewed talk of AP4.
It is unknown if series director Jay Roach will return to helm the sequel, or if a new story/script will be developed.