From Variety: "Pic is tentatively intended for release in summer 2009, although the studio stressed that there’s not even a script or budget yet. Sequel is apparently at the very beginning of the development process and, as with any other project, there are any number of factors that must be addressed before it is greenlit.
Pact with Singer signals that Warners isn’t ready to walk away from the iconic franchise — or Singer –even though "Superman Returns," while grossing more than $390 million worldwide, wasn’t the performer studio had hoped for.
Warners and Legendary say they will still turn a profit from "Superman Returns," with Singer inking his deal just as the film crossed $200 million at the domestic box office. Insiders say Warners and Legendary are sure to insist that the sequel’s production budget comes in under $200 million."
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