Oz the Great and Powerful comes out today, but Disney already wants a sequel because of early favorable reviews and an expected $80 million opening.
Mitchell Kapner will write the script again, which apparently will include Dorothy. Anything in the book The Wonderful Wizard of Oz by L. Frank Baum is fair game (it's old enough to be public domain), but iconography from the 1939 film, like Dorothy's famous ruby red slippers is under copywright by Warner Bros.
No word on whether James Franco, Mila Kunis, Michelle Williams, or Rachel Weisz will return. You can see Oz the Great and Powerful today!