Masters of the Universe 2

Masters of the Universe 2: Cyborg was a planned sequel to the 1987 Masters of the Universe film, intended to be released in 1989.

The film was never produced, and instead the science fiction film Cyborg was released in 1989.

Why it was cancelled

 * 1) Masters of the Universe flopped at the box office.
 * 2) Most of the movie was reworked into Cyborg.
 * 3) Cannon Pictures went out of business in 1994.
 * 4) The stars of the first film went to do other films.

Result

 * The sequel was permanently cancelled and will be rebooted with a Masters of the Universe film scheduled for a 2019 release.