This is from Bleeding Cool.com:
When the news broke that Paul Levitz was stepping down from DC Comics as both President and Publisher, I wondered what that meant for the possibility of a Watchmen sequel. Certainly in a hundred years, you couldn’t expect there not to be one.
Well, it seems to be happening a lot sooner than I thought. I understand now that this considered a pet project of Dan DiDio, SVP-Executive Editor. That he is determined to impress new bosses by building on DC’s biggest selling comic book of all time with multiple prequel comic miniseries and spinoff ongoing projects.
Both Jim Baike, Rich Veitch and Gene Ha/Zander Cannon are artists who have taken on writing chores on books previously written by Alan Moore, to continue the storyline. The most creatively-acceptable solution would be Dave Gibbons writing and drawing new Watchmen titles. But DiDio’s plans seem much larger than just one book.
And of course, in those initial movie contracts with Fox, there was a clause that included sequels to a Watchmen movie.
When asked, Dave Gibbons only replied “Hurm…”
Ozymandias: All I can say is, Please don't do this DC! Watchmen is fine the way it is! Just leave it alone and make some other new graphic novel.

Thanks to Bleeding Cool.com for the info.