Merrick here...

When last year's TMNT film ended up being reasonably swell received, speculation about a sequel immediately began. Indications said that chances of a new TMNT movie were "50/50" at that time.

Seems movement towards another film is now happening. THIS POSTThe official Playmates Toys website is now referencing early work on a new movie project for 2010.''

“Following the success of the ‘TMNT’ theatrical release in 2007, Mirage licensing and Imagi Studios have begun work on a new live-action TMNT film for 2010. It’s the turtles like you’ve never seen them before! Shellalicious!”

Interestingly, the Playmates post was subsequently amended to read thusly:

“Following the success of the ‘TMNT’ theatrical release in 2007, Mirage Licensing is in negotiations with several companies about a new TMNT movie for 2010.”

The reference to "live action" and "Imagi Studios" (who brought us the 2007 CGI film) were completely dropped, as was the word "Shellalicious".

It's hard to know (with certainty) what any of this means, altough I suspect another film project is now in motion & whether it's live action or animated (in some fashion) has yet to be determined. I'd also guess everything from a sequel to last year's film...to an unrelated live action restart...is being mulled.

After seeing the mind-bending puppet work/animatronics in HELLBOY II, and hearing hints of what Guillermo & Co. have planned for puppetry in THE HOBBIT, part of me would really love to see the Turtles go live-action again. First and foremost, though, the tone of the characters has to be right...an element every TMNT movie has struggled with to one degree or another.

More as we know more...