Nikki Finke at Deadline confirmed it, and so has Jon Favreau on his own Twitter: the Iron Man director (and One, True Foggy Nelson) will not be returning for a third outing with the Armored Avenger/Ol’ Shellhead/whatever pet name you want to give him.
Instead, Favreau is off to direct Magic Kingdom for Disney proper, which answers the one question I had in my original report on the Disneyland-meets-Night at the Museum family fantasy film.
I know what you’re thinking: first Terence Howard, now Jon Favreau — what’s going to happen to our beloved superhero franchise? Jon Favreau is a talented director (I’ve been saying that since Zathura), but I’m sure the franchise will go on just fine without him. I can’t speak to what Favreau brought to the films except perhaps the loosey-goosey, improvisation-based production. I don’t think we have another X-Men: the Last Stand or what would happen if Chris Nolan left the Batman franchise because Marvel has a tight grip on the creative direction of these movies (as I understand it). Let’s not worry yet, you guys.