hSM3!

LOS ANGELES, Calif. (August 22, 2007) - With the overwhelming success of Disney Channel's "High School Musical 2" on the small screen, it's no secret Disney is itching to ride the wave of success with a big screen sequel.

Gossip reports surfaced today that the planned third movie, is in trouble. Several reports claim that stars Zac Efron and Vanessa Hudgens are holding out on the big screen version for more money.

When Access Hollywood spoke to Zac last week at the "HSM 2" premiere, he assured us it was something he wanted to do, "A third movie would be a dream come true. Finishing "High School Musical" with a third movie, that would be in theaters, is just sort of a tribute to everything we kind of did here."

At the same premiere, Vanessa told Access Hollywood she had not seen a script yet, but "If it's good of course we are all going to join back in We all have so much fun together. So, why wouldn't we do another one?"

Access Hollywood has confirmed today with their reps that both Zac and Vanessa are still in talks to do the third movie.

Walt Disney Studios today released the following statement; "There is no contractual obligation for any of the cast members to return. That said, we are in active negotiations with all of the principle cast members and are feeling optimistic."

Back in February, Disney announced plans for a 2008 feature film sequel with a Halloween themed dubbed "Haunted High School Musical." Today Disney says they have scrapped plans for the Halloween theme and instead will focus on the senior year of key characters at East High. The original writer from the first two films, Peter Barsocchini, is writing the script. The original producers and director are also on board.

Director Kenny Ortega confirmed to Access Hollywood last week that he is definitely on board too.