In 2003 the movie gods blessed all us lowly mortals with one of the greatest mash ups (slash-ups?) in the history of horror. After decades of waiting, Freddy finally met Jason in Freddy vs. Jason. A sequel has never been released but there's hope for it yet.
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Movie Pilot reported that a sequel may still be a reality for the bloody pair. Sean Cunningham, creator of Friday the 13th, says that the pair may meet again and that the chances are good. Cunningham made some valid points from the point of view of a film maker citing, "The other reason that I think it's a possibility is that we spent so much effort in trying to find a way to get the two of them together in a movie that was action-packed and unpredictable that we had lots of material that was unused."
A valid point but we've already seen that movie and it's unlikely that whatever is on the cutting room floor would be different or exciting enough to warrant a new film.
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There are some other issues that make this less than an exciting prospect. Since 2003, both characters have seen a reboot. It's likely the studios involved with the film will go with these newer versions of the characters.
Not such an issue for Jason, because slowly walking, machete wielding killer is pretty much always the same. Huge issue for Freddy however. His character saw a massive personality shift in the new movie.
Honestly, does anyone want to watch two hours of a non-funny, pedophile, child murderer do anything? Who would you even root for in that situation?
Also to note, Robert Englund, the actor known for playing Freddy Krueger, has said that he will not be taking up the mantel again after his role in the first Freddy vs. Jason.
If Hollywood wants to do another mashup (slash-up!) then there are plenty of characters out there fans would love to see go toe to toe. Chucky vs. The Puppet Master? Just an idea Hollywood.