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Akamatsu Ken announced in his web diary that they can now initiate "the project" freely because the number of the pre-orders of the new OVA Mahou Sensei Negima! Mouhitotsu no Sekai was large enough. He said he could not explicitly disclose what "the project" is from now since the sales data turned Akamatsu's personal desire into a real project .

He had been saying that the final chapter of the OVA series will be released as a movie if the sales are successful.

Source: Akamatsu's diary (Aug 11)
Related topic: Second Series of Negima OVA Announced [Confirmed]

Update
The official announcement will be made on September 17th.

Source: Akamatsu's diary

Updated on September 5th
According to Weekly Shounen Magazine, a "full-length" anime of Negima was announced to be premiered in 2011. They used the term "Negima Saga Final", but it's unknown if this is the tentative title of the anime.

Source: Scan of WSM

Updated on September 9th
Akamatsu Ken said they used the term "full-length anime" because they haven't booked theaters yet. The movie will be the final chapter of the Magic World Arc. He also said "I have no comment on why they wrote 'Negima Saga Final' in the magazine."

Source: Akamatsu's diary

Awesome

Freakin' epic.

OMFG!

I don´t know if feel happy or angry..... of course, more animation, but.... always OVAs, (probably) movies.... WHY NOT AN ENTIRE SERIES!?

any way, great news~

Awesome news.

Here it is, the infamous news -__-

Actually, I'm thinking the same thing. I want the OVAs to stop, and instead just produce a new series.

this guy's a damn liar

ah, that'd be good then

I just want a tv series that is true to the manga, is that so hard, really, a shonen style show to Negima, it just lends itself to fillers too so that won't be a problem, why not a series, I WANT A SERIES.

The same here!!!! Why don't they just turn the manga into an anime series? Still, awesome news!

Yay! More Negima~ ^_^

Awesome!

I hope the movie is the school festival arc!!! But i guess that would need more than one movie... :(

Well if the movie is around 1h40 I think that they can make it.

As I say every time this has been mentioned (I'll paraphrase for variety though):

Bitches need to do a Brotherhood on this shit.

Yes they need to but Akamatsu seem to like SHAFT which seem to hate doing long run anime so I think we won't have a brotherhood on this.

I think that is too short, one whole movie can be the Tournament part, another would be needed for the fight when they go back to past and the Whole school fights.
Also dont forget that different adventures he has with the students using the watch!