By Gabe Toro | The Playlist March 2, 2011 at 1:52AM
"Percy Jackson And The Olympians: The Lightning Thief" seemed to come and go earlier this year. Nary a peep was heard from the hit-hungry Fox about a sequel after the film was soundly trounced on opening weekend by, of all things, "The Wolfman." An underwhelming 2010 has likely put a bit of pressure on the studio, however, as more than a year after the first one opened, they are now pursuing a "Percy Jackson" franchise. The LA Times reports that "Ed Wood" writers Scott Alexander and Larry Karaszewski (the duo also wrote "Agent Cody Banks") have been hired to pen "Percy Jackson And The Olympians: The Sea Of Monsters."
Chris Columbus, the expensive director of the first film, will likely return as producer, but the studio is looking for a new (cheaper?) helmer. The plot this time would follow Percy, the son of Poseidon, as he and his friends head into the Sea of Monsters to find the mythical Fleece of Gold. Logan Lerman, who played the titular hero, is expected to return, with other lead cast members contractually obligated to return as well. "The Sea Of Monsters" is the second in the five book series from author Rick Riordan, so if the second film improves on the first's box office performance, there's no reason to think Fox won't start spitting these movies out like lotto numbers.
The first film "reportedly" only cost $95 million, according to Box Office Mojo, which we sorta don't believe since fantasy films are usually more expensive, but we sorta do believe, since Fox does these sorts of things on the cheap. Regardless, 'Percy Jackson' advertising was all over the place in late 2009, so the film's $226 million worldwide take and underwhelming DVD numbers suggest the audience for this brand name isn't quite there in order to make a hefty profit. Despite Fox dragging their feet, a source for the L.A. Times claims that the film could shoot as early as this summer.