James Cameron's "Avatar" Greenlit

From Entertainment Weekly:

For all those in Hollywood who bet that James Cameron would never again make another movie... well, we hope you didn't wager a lot of money. Because after nine long years of dusting his Titanic Oscars and carefully, methodically, and maybe even nervously plotting how to follow up one of the biggest cultural phenomenons ever to come out of Hollywood, the King of the World is officially back in the director's chair. Twentieth Century Fox is announcing today that it has finalized a long-in-the-works deal to produce Cameron's next project, a sci-fi epic entitled Avatar.

The movie is likely to be one of the most technically complex productions ever mounted, as it will make extensive use of cutting edge 3-D, computer animation, and motion capture f/x technology. (Think: how Peter Jackson brought Gollum and King Kong to life.) And by the time it arrives in theaters in the summer of 2009, the movie might be one of the most expensive movies ever made; Fox is said to have greenlit the film at $200 million.

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