One studio’s loss is another’s gain as the Dumb and Dumber sequel gets picked up one week after being dropped by Warner Bros.

The Farrelly brothers announced today that Red Granite and Universal Pictures have picked up the rights to Dumb and Dumber To, the long awaited sequel to 1994′s Dumb and Dumber. The brothers tweeted out a celebratory photo of Dumb and Dumber characters Lloyd and Harry with an accompanying tweet that read:

The sibling directing team have been keeping us in the loop via twitter since the project’s relationship with Warner Bros. went south. Last week they tweeted out a similar, less detailed message:

Fans have been anxiously awaiting word on the project since it was announced that not only were the Farrelly bros. working on the script but original stars, Jim Carrey and Jeff Daniels would return.

The original film was financed and distributed by New Line Cinema which operates under Warner Bros. studios. Warner Bros. declined to move forward with the production on the heels of the failure of Carrey’s last film, The Incredible Burt Wonderstone, which costarred Steve Carrell and Steve Buscemi.

Many fans, however are saying “good riddance” to the studio that, in 2003, gave the green light to Dumb and Dumberer: When Harry Met Lloyd without the Farrellys or the two original stars. The prequel did not do well at the box office or with loyal fans of the original film.

There is no official release date for Dumb and Dumber To as of yet, but production on the film is expected to begin soon, now that a deal has been reached with Red Granite and Universal.

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