Why you've never seen an Independence Day sequel: $$$

Why has Fox never made a sequel to its surprise $800 million hit Independence Day? In typical Hollywood fashion, it all boils down to deals and money, at least according to ID4 co-writer/director Roland Emmerich, who explained it this way to LatinoReview.com:
Dean Devlin and I are still set to make a sequel likely because we've found some sort of idea and we approached Fox and Fox has not quite figured out how to incorporate Dean's and my deal, and Will's (Smith's) deal. Will wants to do it in some sort of a package they can live with. So it's just been in negotiations now since forever, and naturally Fox says "Why don't you do it without Will Smith?" I said Will is essential for us, for this movie and actually for the audience too.

If the deal stuff can be figured out, Emmerich says he'd love to do ID4 2 and added that he and writer/producer Dean Devlin even have "a very cool" story for it. We say come on, Fox, get it together. In the 13 years since ID4 came out, movie ticket prices have increased more than 60 percent, meaning an ID4 sequel could easily pass the $1 billion mark. Surely there's enough money to go around?

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