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Legendary wanted to produce a sequel to del Toro's Pacific Rim, which was made under the Warners deal and turned into one of those films that grosses a lot ($411 million worldwide) while being so costly that a follow-up isn't a sure thing. Sources say Legendary liked that the original performed exceptionally well in China, where the company is heavily invested, but for now the project - which had been ramping up to make a release date in August 2017 - has been halted indefinitely and will be pushed back (if it gets made at all).
Today. Today... at the edge of our hope, at the end of our time, we have chosen not only to believe in ourselves, but in each other. Today there is not a man nor woman in here that shall stand alone. Not today. Today we face the monsters that are at our door, and bring the fight to them. Today, we are canceling the apocalypse!