Fox Diving Into <i>Percy Jackson</i> Sequel With <i>Sea Of Monsters</i>

Fox has begun development on a sequel to Percy Jackson and the Olympians: The Lightning Thief, the 2010 fantasy-adventure that grossed more than $226 million worldwide.

According to 24 Frames, the follow-up will be based on The Sea of Monsters, the second book in Rick Riordan's bestselling series of young-adult novels. Although Chris Columbus, who directed the first film, isn't expected to return but he will produce along with Karen Rosenfelt. Most of lead actors, led by star Logan Lerman, are expected to reprise their roles. (Lerman signed a three-picture deal, but has said he'd like to make the entire series.)

Scott Alexander and Larry Karaszewski, who penned Ed Wood and Agent Cody Banks, are writing the screenplay, which follows the demigod Percy -- he's a son of the Greek god Poseidon -- and his friends as they rescue the satyr Grover and retrieve the Golden Fleece. Shooting could begin as early as this summer.

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