IGN has recently released a report detailing increased activity in Paramounts "Animation Plans" saying:
Paramount has recently ramped up its animation plans by hiring seven writers to tackle projects, some of which Mary Parent and J.J. Abrams will oversee. What's more, Paramount chief Brad Grey has been tasked with hitting up its sister division Nickelodeon for animated properties including The Legend of Korra. - IGN
Doesn't seem like anything's even close to confirmed at this point, though IGN said this:
Big news, Avatar fans! Thanks to Paramount Animation, we may soon be getting a Legend of Korra movie. - IGN
We know Mike and Bryan have expressed interest in doing a full length movie based in the Avatar universe in the past, so it definitely would seem like a possibility, especially with Paramount seemingly taking a more active interest in the animation department. As long as it doesn't interfere with the still to come 3 seasons of Korra, i'm all for it.  Seems like it would be awesome way to explore the Avatar universe. What do you think about a full length animated movie (obviously M. Night would not be involved in this one)?  It could really boost interest in Korra and ATLA, and so long as most of the team that worked on ATLA and Korra were involved it has a major chance of being epic. Read IGN's Full Report Here [caption id="attachment_5959" align="aligncenter" width="640"]The Legend of Korra The Movie IGN Think's there is a possibility of a Legend of Korra Movie, what do you think about it?[/caption]