After the 3D release, the never-before seen bloopers and deleted scenes, and the Blu-Ray release of the trilogy, I think Disney has spoiled us LK fans more than enough. It's highly unlikely there will be another
Lion King movie since DisneyToon Studios announced it will no longer produce future sequels to Disney theatrical animated films when John Lasseter took over Disney's animation department. I would be nice if there was a sequel or prequel in production, but Disney announced back in March that they are have no plans to release traditional animated films. If this scenario played out, the major question holding over it is: Will it be good or not? It certainly won't be as good as the first film, but Disney Animation Studios has improved the quality of their recent animated features so there is hope they will give it a good story and first-rate production values. The major thing going against a sequel to
Simba's Pride is whether Kiara, Kovu, and the new characters having more screentime than the original characters and the possibility of killing off Simba which is a no-no to the fans. The major thing going against a
Lion King prequel is the tendency to contradict the original film like
Star Wars prequel trilogy. It can happen, but for now, it's an afterthought.
As for new Lion King stuff, have you seen
Timon & Pumbaa: Find Out Why animated short series? They're a short animated feature attached to the Blu-Ray release of
Simba's Pride according to this
website. I don't what that is since I don't have a copy so it's worth checking out. I'm assuming "Timon & Pumbaa's Insectapedia" is essentially a bonus feature game similar to "Timon and Pumbaa's Virtual Safari" on the Blu-Ray copies of
The Lion King 1½.
I don't expect much of a continuation of the franchise (expect for new tours of the Broadway musical and more merchandising) until Disney releases
The Lion King 7 to 8 years from now when we may get new bonus features that will make it worth buying.