That's what I'm wondering. I guess it's all a matter of franchise theory. Evey studio wants to have a Shrek, I guess. Again, I don't count Toy Story in so much as Disney wanted a second DTV Toy Story movie, and Pixar made a theatrical quality one, and the fact that Disney threatened to make their own before they were bought up, and they decided to do THEIR third film.
Now I never saw, nor felt compelled to see Hoodwinked at all. I still haven't. I don't know if I even want to bother with this one. And yet, Dreamworks refuses to do another Monsters Vs Aliens because it didn't do well in one foreign market. I DON'T get it!
However, Sony has yet to make a movie that isn't a waste of animator time and effort, and I wouldn't put it past them to do "Cloudier with even MOAR Meatballs" where a bunch of aliens and ninjas want to steal the technology to make food to grow beans to make bigger farts for some reason... or "Surf's Up... but this time they're NOT Surfing, but Disco Dancing on Pluto!" Really... Open Season? Open Season 2? And a third one where they're in the circus? A plot device lifted from the third Madagascar movie? I like Madagascar, and the sequel was alright... but I'm not going to bother with the third one.
Wasn't the second OS movie based on the "Who let the Dogs out?" novelty song from a buzzillion years ago?