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The MEN IN BLACK series really went about as far as they could possibly go. Once you start dipping your toes into the time-travel pool in order to keep things going, it's probably time to move on and do something fresh.

And that's the plan with MEN IN BLACK III marking the end of the initial pairing of Will Smith and Tommy Lee Jones and now a new trilogy in the works that would reinvent the franchise for the next few years.

While recently promoting their latest film HE NAMED ME MALALA, producers Walter Parkes and Laurie MacDonald were asked what might happen with MEN IN BLACK going forward, now that Sony has new blood at the top.

We're in the middle of it. It's very active.

They also clarified that Will Smith very likely will not be a part of it, giving them the freedom to find a new duo to build around that has the potential to bring an entirely different dynamic to the table.

I think the truth of the matter is the audience really liked that film and the cast was wonderful, Tessa [Thompson] and Chris [Hemsworth] were great and did a terrific job, but if we made any mistake, I think it probably was that there was not a strong enough idea in the story. Especially when you compare that to, say, "Jumanji," which had a very, very strong idea. So the lesson of it is we have a pretty darn good batting average around here, but you are never going to bat 1.000, and you need to continue to take risks. But you have to try to manage risk. In the case of "Men in Black," we had two cofinanciers on that movie and that manages the risk. I really do believe you cannot eliminate risk in the movie business. If you try to eliminate risk, you will eliminate creativity, and if you eliminate creativity, you will eliminate success.