I missed this story totally when it was first talked about, but here it is from Moviehole:
George Miller’s one-time full-speed-ahead plans for “Mad Max 4″, are back on, the veteran filmmaker tells Australia’s Empire Magazine…
…”Yeah, there’s a real hope”, Miller says, when asked whether he thinks the sequel will be resurrected…
…”You don’t sit there saying, “Oh, I better make this film better than the last one”. You say, “is this a great story”?
…”The last thing I wanted to do is another Mad Max, but this came along, and I’m completely carried away with it. We were about to do the film, but the war came and the American dollar crashed and it was almost impossible to ship vehicles to our location. We had a deadline, and we couldn’t meet it. We also had a deadline on Happy Feet [his next movie], so we said, “It’s one or the other”. So it’s happy feet”.
I think the last thing I want to see is another Mad Max. It’s going to be just another sequelisation of a series that should remain where it is…didn’t they realise that after Thunderdome? Mind you, they could do it in water…and call it…Water something, WaterPlanet? No, this is a bad idea, leave Mad Max, at least we’ve gone back to loving the first and forgetting about the last. Would you want to see this, especially since it looks like Mel Gibson won’t be in?
