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James Cameron Agrees to Make Two Sequels to ‘Avatar’

News Corp.’s Fox Filmed Entertainment said James Cameron has agreed to make two sequels to “Avatar,” the highest-grossing film of all time, as his next projects.

The installments are targeted for release in December 2014 and 2015, the movie studio said today in an e-mailed statement. Cameron will begin working on the scripts early next year and may start production later in 2011.

The planned releases could mark another boost for News Corp.’s profit. “Avatar,” which ignited viewer enthusiasm for 3-D films, has taken in $2.78 billion in worldwide box-office sales, on production costs of $230 million, according to Box Office Mojo. The movie was released on Dec. 18.

Cameron will decide if he’ll make the new films back-to-back after completing the scripts, Fox said. He will produce them with Jon Landau for Cameron’s Lightstorm Entertainment.

News Corp., based in New York, rose 1 cent to $14.32 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have gained 4.6 percent this year.

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