Does 'Grown Ups 2' fit the bill?
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'Crocodile Dundee in Los Angeles' (2001)
Sequel to: "Crocodile Dunee" (1986) and "Crocodile Dunee II" (1988)
Did it kill the franchise: Yes.
Why it was so unnecessary: The first "Crocodile Dundee" film was an inexplicable piece of alchemy, coming in as 1986's second-highest-grossing movie and even -- it's hard to fathom this today -- earning an Oscar nomination for its screenplay. One could argue that the sequel wasn't especially necessary, but at least it was prompt and provided a logical reversal-of-formula from the original, becoming a blockbuster in its own right. Then they waited 13 years and, for no logical reason, decided it was time for another sequel. Was it because the world was clamoring to see Mick with a son? They might have thought so. Was it because of the rise of "Crocodile Hunter" Steve Irwin? Perhaps. Was it to prove to the world that Linda Kozlowski still existed? Maybe. In any case, the fish-out-of-water charm of the first two movies was entirely lost in a convoluted plot involving art theft and, fittingly, the production of a soulless action movie sequel. Because it was cheap, the $25+ million in domestic box office falls short of a huge disaster, but nobody has suggested a fourth movie.