With the franchise on life support, a second sequel to the slasher flick I Know What You Did Last Summer is in the works. Variety reports that Columbia has ordered a third installment, despite the fact that the first sequel 1998's I Still Know What You Did Last Summer showed little sign of life at the box office, grossing just $40 million. The new flick reportedly will feature different characters. In other words, no Jennifer Love Hewitt. The trade paper also reports that Richard Gere is a signature away from starring in Unfaithful, a thriller based on the French film La Femme Infidel. Gere would play a man who kills his wife's lover.