With Disney recently working out a deal to purchase the marketing and distribution rights for Indiana Jones from Paramount, many fans probably expected Disney to announce Indiana Jones 5 rather soon. In fact, there have been numerous rumors suggesting that Harrison Ford had been asking for a guarantee of future Indiana Jones movies as part of a deal to do Star Wars Episode VII.
However, Variety is reporting that Walt Disney Studios chairman Alan Horn indicated at the Variety’s Dealmakers Breakfast this morning that the next Indiana Jones installment is still two to three years off. Horn said, "We haven’t done anything. We don’t have a story. We need a story.”
As far as why they bought the rights from Paramount, it appears that was a necessary component before they even started work on sequel ideas. Horn added, "It didn’t make sense to produce the movie at Disney and then have it be distributed and marketed by Paramount."