Justin Theroux To Write/Direct Zoolander 2, Jonah Hill As The Villain?

It looks like Ben Stiller's long-in-development sequel to Zoolander might actually be happening. Finke has learned that Ben Stiller has been working on a script with Tropic Thunder and Iron Man 2 screenwriter Justin Theroux. Paramount Pictures wants to keep the budget low (under $50 million) as the first film was not a box office hit. The current plan is for Theroux to direct, and Jonah Hill is apparently in early talks to play the sequel's villain. Theroux will be at Fashion Week in Paris to "immerse himself on what is current in fashion".

Stiller has said in the past that a sequel would be set 10 years later with Derek Zoolander dealing with the fact that he is no longer a model, possibly spending his days running a modeling school and taking care of his now 10 or 11 years old son. Stiller has also said that a sequel couldn't be made without Owen Wilson reprising his role as Hansel.

I know the first film has developed something of a cult following after disappointing at the box office, but something tells me that the world still isn't ready for another Zoolander film.