Jake Gyllenhaal In 'Prince Of Persia,' Russell Crowe Set For 'Master And Commander' Sequel, International 'I Love You Phillip Morris' Trailer

Here’s your first official look at Jake Gyllenhaal in the token ‘stand and stare with angst’ look as the lead in Jerry Bruckheimer’s “Prince Of Persia: Sands Of Time.” The film hits theaters May 28th, 2010. [EW]

Russell Crowe is reportedly in early negotiations for a sequel to his 2003 film “Master And Commander: The Far Side Of The World.” Crowe noted that the sequel will be adapted from the 11th novel of the Aubrey-Maturin series which began with “Master And Commander.” The first film was directed by Peter Weir and was nominated for a Best Picture Oscar. [Yahoo]

Contractual disagreements between New Line Cinema and the heir of “Lord Of The Rings” author J.R.R. Tolkien’s estate may put the brakes on Guillermo Del Toro’s adaptation of “The Hobbit.” The film rights to Tolkien’s LOTR trilogy were sold in1969 by the author but his estate now argue that the studio never paid their rightful 7.5% of earnings. The studio meanwhile claim the original contract was ambiguous. Come on now…[Guardian]

A new poster for Matthew Vaughn’s “Kick-Ass” drawn by the source comic’s artist John Romita Jr has been unveiled just in time for Comic-Con. Vaughn revealed he will be presenting several scenes from the film at the convention. [AICN]

Scribe Matthew Michael Carnahan is set to adapt Max Brooks’ “World War Z.” Carnahan, whose previous efforts include “State Of Play” and “The Kingdom,” will take over J. Michael Straczynski. [Fangoria]

Two new official stills of Megan Fox and Amanda Seyfried from “Jennifer’s Body” have been unveiled. [BloodyDisgusting]

Nicolas Cage has revealed his ambitions to “reconceive” the “Ghost Rider” franchise rather follow up the 2007 film with a sequel. Translation: Let’s disassociate ourselves with that atrocity that was the first film and try, try again. So essentially, a reboot with the same lead actor? Don’t bank on this one ever happening. [MTV]

Gemma Arterton is set to team with director Stephen Frears for an adaptation of the Posy Simmond comic book series “Tamara Drewe,” reportedly a modern day retelling of Thomas Hardy’s “Far From The Madding Crowd.” Interesting path for Frears. [FilmSchoolRejects]

An international trailer for Jim Carrey and Ewan McGregor prison-rom-com “I Love You Phillip Morris” has been released. [Allocine via FirstShowing]