The news was confirmed at CinemaCon 2016 during the 20th Century Fox presentation, by studio co-chairman Stacey Snider and CEO Jim Gianopulos.
“Deadpool” grossed nearly $760 million worldwide and earned wide praise for busting the conventions of the ubiquitous comic-book superhero genre.
In February, Reese and Wernick told TheWrap about their desire to keep a potential sequel small in scale.
“That allows us to control that budgetary thing a little more,” Reese said. “I don’t think we’re gonna see Deadpool and Cable on some far-flung planet 300 years from now because I just feel like that’s gonna be expensive, A, and will also take away from the relatability of Deadpool.”
“We don’t want $150 million to go make the next movie. That’s not Deadpool,” Reese added. “Deadpool doesn’t lift cities up into the air or battle aliens coming down to earth … So we’re happy in that little small budget range that they have us in.”
Reynolds is also headed to work in a supporting role in “Life,” a sci-fi script from Reese and Wernick, that also stars Jake Gyllenhaal.