JAWS and Amity island aren't going to be replaced for a Wizarding World expansion.
Using common sense let's really think about this.
JAWS is completely on the oppisite side of the Universal Orlando Resort from WWoHP.
2. Shit is in the way!
There is also a lot of important things back there which would need replaced and moved. Central Casting, Human Resources, Wardrobe, Cafeteria 1, Maintenance, Employee Parking and the Props Department all sit in between these two.
Okay, Islands of Adventure already has a Hogwarts Express and it's not likely to move. Plus you also need to really consider the JK Rowling still controls a lot of the rights to the HP brand, I sincerely doubt she'd allow Universal to separate the areas. We probably will see an expansion of Wizarding World or the mystery "Phase 2" project but it'll simply take over the rest of Lost Continent which has been a weak area since the opening of Wizarding World. Personally I'd say the odds of seeing WWoHP expand into Universal Studios is about a Million to One.
So please, let's stop spreading THAT rumor and look at what Universal is really up to.
The nice people over at Orlando Theme Park News showed up with a few interesting trademarks Universal has made lately, including Despicable Me and the long rumored water park.
Let's think for a minute.
What has Universal Studios pulled out of the hat lately?
-Men in Black, The Y2K project.
-Revenge of the Mummy, (I don't recall the project name)
-Rip, Ride and Rockit Coaster, Project Rumble.
We're looking at something huge here, something big enough to take over almost 1/5 of the park and re-theme an entire 'land'. With Disney having announced recently the Avatar expansion to Animal Kingdom, that has to be added into thought. Also consider Universal will be looking at "100 years of movies" anniversary here shortly, this new project may coincide.
Since this is Universal Studios I'm personally looking at movies, the big blockbusters to be exact. What has really been HUGE in the last few years? Big enough for Universal to shutter JAWS and replace Amity? Rumors are flying right now among the message boards but all anyone has focused on is Harry Potter. Although a new one reached me this evening saying we could perhaps have a Tuesday announcement on the matter. This seems far to quick to me after the original announcement of closure but perhaps it's a knee jerk reaction to public outcry? We'll have to find out.