Variety has confirmed that Bryan Singer has signed with Warner Bros. to produce and direct a sequel to this summer's Superman Returns.  In spite of a somewhat disappointing performance at the box office (Superman Returns earned $380 million worldwide, but cost nearly $260 million when $50 in prints and advertising costs are added into the film's actual production costs of $208 million) Legendary Pictures, which put up half the financing for Superman Returns (and Batman Begins), is expected to finance the Superman Returns sequel.

According to Variety and IESB, insiders at Warner Bros. have pegged the budget for the next Superman film at between $140 and $175 million, still hefty, but a significant reduction from Superman Returns.  Reportedly Singer has also promised the studio that the sequel would contain a good deal more action.  Brandon Routh will return as the Man of Steel.