It's been known for a while now, but finally we have confirmation of the Negima movie. It's double billing with a Hayate The Combat Butler movie and is titled "Anime Final"...which means sadly that it's probably the last animated Negima we will ever see. 
(Still, given how "Final" doesn't always mean "Final" in some cases...)
Presumably it's covering a good chunk of the current manga arc after Another World's OADs, but there may be parts cut for time. It may be way too early but I am hoping this is in Funimation's sights.
The movie may not be the "final" Negima animation. In volume 29 of the Negima manga which was just released this week there is a little message from Ken Akamatsu. It states "Thanks to all of you, there will be a long animated series starting in 2011." It looks like we might get more Negima in the future.
I doubt that. There may have been plans that were dropped for a new anime, but I'd love to be proven wrong.
Unfortunately the movie isn't as long as I'd have expected, the length was revealed to be 60 minutes, which I'm guessing is due to it being a double feature with the Hayate the Combat Butler movie. Also, Akamatsu said you don't need to watch the OADs to understand the movie, which means that it's probably going to do a quick recap and gloss over events that we'd love to see animated
There's always hope of another movie or a bonus OVA/OAD covering the events beforehand and maybe, just maybe, another series of OADs covering the festival arc (come on, Final in Japan never means FINAL, look at Final Fantasy or, to a lesser extent, R-Type Final...although R-Type Tactics wasn't exactly a follow-up in genre), but if this is the last SHAFT animated Negima material then it may mean another company would work on it (my money would be on JC Staff). But this is just speculation, and for all we know this may be the last we see of Negi and pals animated.
Still, I'd be happy if we got news of a license for this and the OADs, as ANB said despite the cuts they're really good. I kind of wish I had informed Jamie Marchi of the movie at MegaCon when I was there, seeing how she absolutely loved working on Negima!?...
If I were fluent in Japanese, I'd lobby Akamatsu-sensei to have the whole series rebooted as a TV series to get it all, ala Fullmetal Alchemist. Maybe that could happen when Negima! manga ends.
AstroNerdBoy's Anime & Manga Blog
AstroNerdBoy's Facebook Page
Hata from Aquastar-Anime's forums posted some info on the movie's story and basically it's going to be an alternate ending to Negima of sorts that Akamatsu had originally planned. I was going to post the whole thing here but spoiler tags seem to be failing to comply.
DONT LET NEGIMA!? END!!!!! please it is my favorite show and i have to see it end. in japan they have a third season so we should in America to.
and if i cant finish it and see how it ends i will end up like this 
and 
so please dont end the show i speak on with all fans backing me up. without negima!? what would i do??? i am an anime freak and i cant ever help to see them end the BEST SHOW EVER! 
There is no 3rd season of Negima!. There's no second season for that matter. Negima! was the first Negima adaptation by Xebec. The second adaptation, Negima!?, is a standalone alternate continuity by Shaft. The "3rd season" you're referring to is most likely the OVA series, also by Shaft, which covers most of the "Magic World" arc of the manga.
All of them were mediocre adaptations at best, and I say that as a huge Negima fan. The manga is simply far and away superior in every way. If you want more Negima I very highly recommend you read the manga.
Don't forget. Always, somewhere, someone is fighting for you.
As long as you remember Her, you are not alone.
Still upset over the fact the movie won't be covering the rest of the MW arc.
I will never get to see
Oh well it's going to be interesting but, I wanted the rest of the MW arc animated.
Yeah. I guess maybe they could consider animated MW arc if the movie does better than expected...maybe.
I'd still get the movie if it were licensed along with the OADs.
when is the movie coming out
It's been out for several months now, as an OAD with the manga. Sadly it remains to be seen if it will ever be licensed.