Even though Bryan Singer's Superman Returns grossed $390 million worldwide, it is still considered a failure by many. Critics often compare it to Warner's other top superhero property, The Dark Knight, which grossed more than $1 billion and had a smaller production budget.
Still, Superman topped the list of a recent MTV poll that asked which DC Comics character should be fast-tracked to the big screen next. In a recent interview with MTV, Kevin Spacey said that he would be "delighted" to reprise the role of Lex Luthor in a sequel to Superman Returns.
If I ran Warner Brothers I could tell you definitively we'd be making that movie. But I don't, and they haven't called me to tell me. Literally, all I know is what I've heard from press reports. I can't even confirm whether those are true or not because I haven't spoken to Bryan.
Recently, director James McTeigue's (Ninja Assassin) name has been popping up as the man who will possibly direct the next installment of the franchise. However, his take on "The Big Blue Boy Scout," would likely leave little room for Spacey, since he said the franchise is "ripe for a retooling."