James Cameron will be working with Avatar 2 & 3

With the record breaking success of "Avatar", James Cameron will start scripting two "Avatar" sequels early 2011 and plans to begin production back-to-back later that year.

Cameron and 20th Century Fox are hoping for December 2014 release for "Avatar 2" and December 2015 for the third installment.

Press Release:

Moving forward with the most anticipated films of the next decade, Fox Filmed Entertainment Chairmen Jim Gianopulos and Tom Rothman announced today that Academy Award®-winning filmmaker James Cameron has agreed to make AVATAR 2 and 3 as his next films.

AVATAR 2 & 3 will be produced by Cameron and Jon Landau for Cameron’s Lightstorm Entertainment.

Cameron, who had always viewed AVATAR as the creation of a new world and mythology, will begin work on the scripts early next year with an eye towards commencing production later in 2011. Cameron will decide if he will shoot the films back-to-back after he completes the scripts, but the release of the first, as yet untitled sequel, is targeted for December 2014, with the third film contemplated for a December 2015 release.

Avatar is the highest grossing film of all time, taking in nearly $2.8 billion in worldwide box office.

[Photo courtesy by ]