Source: The Hollywood Reporter

According to The Hollywood Reporter, 20th Century Fox is set for another "Fantastic" voyage. The studio confirmed months of speculation that it would bring its summer boxoffice hit Fantastic Four back for a second installment.

Director Tim Story and scribe Mark Frost have signed on for the sequel, which is set for a July 4, 2007, release.

The first installment, which grossed more than $154 million domestically, also had been slated for July 4 weekend bow but switched to July 8 to avoid a head-to-head clash with "War of the Worlds." The move paid off as the Marvel comic book-based tale earned $56 million in its opening take. This time around, Fantastic Four will be facing a formidable superhero foe in "Spider-Man 3," which opens in May 2007.