UPDATE:

Reporters from ESPN are tweeting that LeBron James' camp are refuting the Space Jam 2 story.

Well it was fun while it lasted. LeBron sources refute Deadline report, there's no Space Jam 2 or Warner Bros. project in works — Brian Windhorst (@WindhorstESPN) February 22, 2014

Source close to LeBron says there has been no substantive discussions regarding his starring in a Space Jam sequel. — darren rovell (@darrenrovell) February 22, 2014

However, it's worth noting that no one from Warner Bros. is denying anything and Deadline is a trusted source when it comes to Hollywood scoops. On top of that, Rovell's use of the term "substantive discussions" can be read a couple of different ways - including that there have been some early talks, just no deals made. Deadline naming specific producers and writers on the project certainly indicates Warner Bros. is indeed developing Space Jam 2 and LeBron James is probably the intended star. But who knows, perhaps a different basketball star could ultimately take that slot?Original story follows:

Your cinematic future?

This weekend is the date of the Viking apocalypse, Ragnarok . I only mention that as an aside as we discuss the fact that Space Jam 2 is happening. Deadline reported the news, revealing that Warner Bros. is partnering with brother duo Charlie and Willie Ebersol on Space Jam 2, as a starring vehicle for the Miami Heat's LeBron James - and Bugs Bunny, of course. Charlie will produce Space Jam 2, with Willie writing. The movie's in the early stages, so James will have plenty of time to heal from that broken nose he just received.This is the first major film deal for Charlie Ebersol, who previously has produced unscripted TV and the acclaimed documentary Ithuteng: Never Stop Learning. While James will be at the center of the film, it's expected that, like in the original Michael Jordan Space Jam, other NBA stars will also appear.

ESPN 30 for 30 Tackles Space Jam in Parody Video

Space Jam was a hit in 1996, earning $230M worldwide. Still, 18 years is a very long time to make a sequel. As Deadline notes, it's especially amusing that Warner Bros. also announced a release date today for The LEGO Movie 2 , which opened just two weeks ago.