Deadline is unclear about whether this is going to be a sequel or a prequel—and they don’t know if Harrison Ford is going to be involved, either—but they say it’s happening for sure:
After revisiting his classic Alien with the upcoming 3D Fox film Prometheus, Ridley Scott is committing to direct and produce a film that advances his other seminal and groundbreaking science fiction film. Scott has signed on to direct and produce a new installment of Blade Runner.
Oh my God. Could we please get some new ideas to nerd over?

Oh sure, but where’s my Solider II?
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You may not know that I’m a major Sean Young fan and SHE’D BETTER BE FUCKING IN IT.
@ Todd, which word is emphasized in the second part of that comment?
@CC: Oh, I think you guessed correctly.
Will it be based on the K.W. Jeter book, Blade Runner II: The Edge of Human.
Jacob, is that book any good? Are you excited or what?