The Hollywood Reporter reports that DreamWorks Animation will likely produce MADAGASCAR 3 as well as KUNG FU PANDA 2. No susprises here. After all, DreamWorks Animation is the same company who has plans for FIVE Shrek movies… Looks like Jack Black and Ben Stiller are in for some huge paychecks.

The announcement was made by DreamWorks Animation CEO Jeffrey Katzenberg at a preview Wednesday of the upcoming MADAGASCAR: ESCAPE 2 AFRICA, in theaters November 7.