When the Double Fine boss Tim Schafer entered the E3 stage together with actor Jack Black, many expected the announcement of a sequel to the oh-so-rocking Brütal Legend. Unfortunately, that didn't happen - and Schafer even apologised for it. He, did, however, say that the game will get made in the future: "Someday we'll make that game."
The main reason why he can't do it right now is money. Brütal Legend had a budget of $25 million and was supported by EA. To honour the legacy of the first game and do it justice will be expensive. But... it will happen. Because Schafer himself says so!
Thanks, Female First.