As of 2020, ViacomCBS (MTV) no longer has the contractual rights to make new episodes of Teen Wolf. Conversely, while MGM has all rights to the original Teen Wolf movie, they cannot continue the television show without MTV's participation.
This contractual stalemate means MGM cannot make a Season 7 or a movie set in the current Teen Wolf Universe without MTV first releasing its hold on the characters and existing stories.
In November 2020, Teen Wolf creator and executive producer Jeff Davis told Teen Wolf Wiki's Paul Rea that Davis and MGM executives have met to discuss a possible reboot of Teen Wolf. Davis was clear that the reboot under discussion would not include "any characters, stories or mythology from the original MTV show". The current Teen Wolf Universe cannot move forward without a new agreement between ViacomCBS and MGM.
Possible Sale of MGM
In January 2021, MGM Studios began exploring a possible sale of all its holdings including the original Teen Wolf IP. Potential buyers include Disney and Apple TV+.
The sale of MGM could break the current stalemate between MTV parent company ViacomCBS and the others who own a piece of the Jeff DavisTeen Wolf Universe.
False Rumors Spread
Beginning after MTV reunited the Teen Wolf cast for a Zoom call in June 2020, rumors began to spread that new episodes of show would soon follow.
While most of these rumors seem to be cases of media outlets looking for clickbait headlines and reporting isolated statements from the cast without context, there were a few internet trolls who attempted to fool fans with slickly produced videos purported to be real trailers for the returning series.
One channel went so far as to copy MTV's network branding and presented Teen Wolf Wiki videos from 2015 as if they were new behind the scenes content.
In 2017, Davis explained to Teen Wolf Wiki that he had no firm plot in mind for Season 7 because they never planned to make it.
When pressed, Davis says Season 7 might have followed Alec and picked up where Season 6 ended.
For years Davis and Teen Wolf star Tyler Posey discussed the possibility of doing a Teen Wolf movie based on the show. This never went beyond the "wouldn't it be cool" stage of development. There are no plans for a Teen Wolf movie.