According to Variety, Legendary Pictures is expected to co-finance the Warner Bros. production with an eye toward a summer 2009 release.
Of course, "Superman Returns Again" ("The Return of Superman Returns"? "Superman Returns Is Back"? "Superman Rereturns"?) is currently without a script or a budget, so the film hasn't officially been greenlit, a decision that won't come until later in the development process.
"Superman Returns" just limped past the $200 million domestic figure. The DC Comics franchise reboot is also approaching the $400 million figure worldwide. Legendary and Warner Bros. still insist that "Superman Returns," which starred newcomer Brandon Routh, will be profitable, though nearly everybody involved has admitted that its performance was less impressive than anticipated.
It's assumed that a "Superman Returns" sequel will have a somewhat lower budget than on the first entry, where casual and conservative estimates put the figure at around $250 million. Singer has discussed the overly expositional structure of the movie and emphasized that a sequel would be able to jump straight into the action.
Routh and several other cast members have contract options for a sequel.