Steven Spielberg and Drew Barrymore not too long ago had a mini E.T. reunion on the TCM Basic Movie Pageant: New York Pop-Up x 92NY, which raised a query many people have had: When E.T. was launched in 1982, it turned the highest-grossing film of all time … so why wasn’t there a sequel? On the occasion, Spielberg revealed that he as soon as thought of making a sequel, however in the end determined in opposition to it — and even stopped the studio from making one.