Disney developing Hocus Pocus 2?

Moviehole has made the statement saying that Disney is in the development stage of a sequel to the popular 1993 Halloween film, Hocus Pocus. The rumored title is Hocus Pocus 2: Rise of the Elderwitch.

Now... if you have never seen Hocus Pocus the basic plot is this; 300 year old witches (Bette Midler, Kathy Najimy, and Sarah Jessica Parker) return to the town of Salem under their own spell after a teenage boy (Omri Katz), his classmate (Vinessa Shaw), and little sister (Thora Birch) light a candle bringing them back to life for Halloween night. It is a kids movie, but it is truly a great movie. It is one of my favorite films from when I was a kid. It's one of those movies you watch as you get older and realize how adult the humor really was.
However, I am a bit confused on why make a sequel almost 20 years after the first movie was made. The actors have all moved on and aged significantly so unless they introduce all new characters or use one of the former kid actors as current parents or something it could be really lame. I also bet it will be one of Disney's many Direct-to-DVD features. Either that or it will air on The Disney Channel if that channel even exists anymore.

wtf.