The last we heard screenwriter James Vanderbilt (Zodiac) was hired to write a fourth installment in the lucrative franchise. Then the writer’s strike happened and not much else was heard. Now it seems that Vanderbilt has turned in his screenplay and the studio thinks the story arc is such that they can split it into two films with just a little more work and film the whole thing all at one time.

Simultaneously shooting multiple installments of big franchises has become increasingly common of late. The Lord of the Rings trilogy was filmed all at one time, as were the second and third films in the Pirates of the Caribbean franchise. Also the two halves of Harry Potter and the Deathly Hallows will be shot in this manner.

Of course, even if this rumor is true there’s no guarantee that director Sam Raimi or star Tobey Maguire will be back for either film. Neither of the two are contractually obligated to return at this point and both have other projects on their dance cards. Raimi’s currently working on Drag Me to Hell for next year and a Jack Ryan reboot for Paramount aiming for summer 2010 release, while Maguire is attached to produce and possibly star in Robotech for Warner Brothers.