An insider tells io9 that Guillermo Del Toro, the monster-obsessed director behind Hellboy II and Pan's Labyrinth, is definitely not doing Hellboy III. Apparently up until a few weeks ago, he was talking about a third installment as a possibility but now this looks very unlikely indeed. Losing Del Toro could ruin the franchise — but could get the director working sooner on a very cool project slated for 2010.
Hellboy II is coming in July, and previews make it obvious that the flick will be full of Del Toro's signature dreamy crawlies. It's hard to imagine a third Hellboy without Del Toro at the helm, given that a flair for creative visual design are the bedrock of the first movie and Mike Mignola's freaky-dark comic book. At the same time, I'm glad if that means Del Toro will move onto other projects sooner. He's got some interesting stuff up his sleeve . . . such as a movie version of H.P. Lovecraft's ancient alien war story "At the Mountains of Madness," due out in 2010.