Well, not only did he play the role of Hawkins in the original Predator but he was also an uncredited writer on that movie. So he does have a strong connection with the first movie and I'm sure that makes the executives at Fox happy. Personally, I don't care for the guy and wouldn't put him 5 feet from a directors chair from any movie, after seeing IM3.
These studios man, they can't even get a good sequel going, so what makes them think rebooting it will do any good? I'm sure they think the reason the new movies don't make money is because the source material it's oudated for the current generation, when in reality, they just can't make a decent movie that people will want to watch.
Look at Terminator. That had the potential to be the best franchise in the history of movies... there was so much that it could have been done (DONE RIGHT!) after T2 but instead they drove that **** into the ground with tired ideas, ridiculous comedy, bad casting and dare I say, over using Arnold.
Nobody has the guts to do what must be done and that is why the Predator franchise is now crap, Terminator is now crap, Aliens is now crap, Star Wars is now crap (and it will continue to be, after the new movies).
Thank god for the Marvel movies. It's the only franchise that brings me happiness and excitement lately. I hope it continues that way.