Variety and ComingSoon report that New Line is in talks with Will Ferrell to star in Elf 2. The original grossed an impressive $220 million worldwide.
"We're only going to make this if it's with Will," confirmed New Line production president Toby Emmerich. Ferrell would earn $20 million plus for the sequel.
Still up in the air is who will direct the movie. Original's helmer Jon Favreau has the right to look at a script first, but it's unsure whether he'll end up behind the camera for a sequel.
If Favreau doesn't return, New Line executive vice president of production Kent Alterman is said to be a favorite of Ferrell's for the director's chair.
Scott Armstrong (Old School), who did uncredited work on Elf, is expected to be tapped as the screenwriter for Elf 2.
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