MacFarlane returns to write, direct and voice the vulgar teddy bear while Mark Wahlberg will return to star. Amanda Seyfried has also joined the cast.
The film is currently being shot for a release on June 26, 2015, said the Hollywood Reporter.
The 2012 film went on to become the highest-grossing R-rated film of the year with a worldwide box-office collection of USD 549.4 million.
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