Reboot
Billy Zane originally signed up to do two sequels, but this did not happen because of the disappointing sales of tickets for The Phantom in theaters.
On September 6, 2008, the syndicated gossip columnist Liz Smith wrote that Paramount Pictures were putting a sequel to The Phantom into development, with Billy Zane, Kristy Swanson, and Catherine Zeta-Jones returning as actors, because of the good VHS tape and DVD sales of the first movie. Her statements were proven to be wrong on December 16, 2008, when it was announced that a reboot of the Phantom series is in the works, called The Phantom Legacy. The new movie is produced by Bruce Sherlock, who was also the executive-producer of The Phantom. The screenwriter is Tim Boyle.
Read more about this topic: The Phantom (1996 Film)