At this point should they even make a sequel to Green Lantern? It didn't do well with critics, didn't do well with the general audience and barely made back its production. I don't think the movie was Batman and Robin level bad, it will not live in infamy, it will likely be almost completely forgotten in 10 years, so you reboot the series in a decade and almost no one will remember the first movie.
At this point I am wondering if they shouldn't watch till the new JLA movie comes out and try to spin a new GL movie out of that. I am beginning to think it was mistake to do GL before Flash and Wonder Woman, mainly because Flash and Wonder Woman have straight forward powers and don't have a supporting cast filled with exotic looking aliens that are expensive to realize in live action. Despite a 200 million dollar budget the GL movie didn't look very good, I almost wonder if it have been better to wait a few more years, for special effects technology to improve and make a better looking GL film for less money, while focusing on more straight forward heroes in the mean time.