According to AICN the Wachowski Brothers are set to take over the Superman franchise from ousted Bryan Singer, and if they are in charge, they will want to reboot it into a Matrix-style trilogy.
The "dub-bros" were set to start work on another super-flick, Plastic Man, but Warner Bros. has put that project on hold, which would allow for the brothers to work on Superman.
AICN goes on to say...
The Wachowski's are currently reviewing their options as its like being asked to take the final play in a Superbowl final. [McTeigue] says if they do agree, he will likely either succumb to providing second unit support on the movie or will champion the directorship of 'Plastic Man.' The very thought of the brothers making a 'Superman' movie is unbelievable as they have grown up in the world of comic books and they would be ideal for the project.
No need to shed tears for Singer, however. He's taking the helm of a Logan's Run remake.