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The actor made a much-celebrated cameo appearance at the end of the first movie, however, he told the LA Times that negotiations for the follow-up had broken down.
"I saw [Iron Man director] Jon Favreau at the Scream Awards and we had a conversation. He said, 'hope things are working out for you because we're writing stuff for you'. Then all of a sudden last week I talked to my agents and manager and things aren't really working that well," he revealed.
"There was a huge kind of negotiation that broke down. I don't know. Maybe I won't be Nick Fury. Maybe somebody else will be Nick Fury or maybe Nick Fury won't be in it.
"There seems to be an economic crisis in the Marvel Comics world so [they're saying to me], 'We're not making that deal.'"
A representative from Marvel Comics said that the company did not comment on "active negotiations".
Jackson was asked to appear in Iron Man after his appearance and personality were used as the basis for the Ultimate Marvel comic version of Nick Fury.
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