Not even surprised about this news. The second film was decent in the lowest of ways, and the third one just sucked hella bad. I hate to imagine a forth film potentially being worse. Good call on Lionsgate for this. I bet FreeForm will get the rights. That would be totally hilarious. xD
Funny things is that for a long time I thought that there were only two books in this series. When I read the second one I just thought to myself "Huh is this the end?" and thought it was kinda cool. Then later on my sister informed me that there are actually more.