IESB.net has potentially good news for Superman fans:
A few calls later, other studio insiders confirmed that the deal was finalized last week and the team that brought Superman Returns to theaters earlier this year will return for the sequel.
We have been told that a couple of things are for certain. For one, the sequel will have a slightly smaller budget. Returns budget was approximately $208 million dollars with P&A (prints and ads) of about $50 million putting it at around $260. The sequel is expected to be around $140-175 million plus marketing.
You can read more on what to expect from the sequel at the link above!