To restate the obvious, no one here is an expert on the movie business, and none of us have any inside knowledge regarding the decision making process at Warners or what they have on their minds beyond the reported box office. We're just blowing smoke on an Internet board.
What we know this morning is that the Warners execs still intend to make a sequel to Green Lantern.
It's not "face saving" or spin at this point - a week out, the first movie is spilt milk for better or worse. No one thinks a low-key reaffirmation of sequel plans is going to pump up box office and it's certainly not going to impress other people actually in the business in any positive way. Nor has the movie's soft box office negatively affected the value of Time-Warner...and It's w-a-a-y easy to just say nothing
on a Sunday afternoon when your movie has dropped over 60% on the weekend.
Why? Who knows? We sure don't. And they can change their minds about this, as a practical matter, any time between now and the beginning of principal photography.
Now, on to the usual BBS smoke-blowing...this rumor was actually floating around on Friday, out at one of the comic sites that has a particularly high bullshit-to-information ratio - comicbookmovie.com. I didn't think it worth posting here because it was an unidentified "inside source" talking to Comic Book Guy. According to that rumor, Warners is looking at Matt Reeves to direct.
BTW, some ancient history that's relevant to this board in particular - the accepted fact that ST:TMP turned out to be profitable for Paramount was anything but clear in the first year or two after its release. The movie opened to tepid-to-bad reviews (my favorite, in it's entirety: "Star Trek, The Motion Picture...frankly, that's giving it the benefit of the doubt"
). The numbers available from trade sources at the end of 1980
pegged the film's negative costs at 45 million dollars and its total first-run box office at just 50 million. They didn't give a firm greenlight to a sequel until 1981.