Apparently, in the last few weeks, James Vanderbilt (Zodiac) has turned in a working draft of Spider-Man 4 to the studio. However, according to our source, "his story arc has encompassed two films, making Spider-Man 5 shootable at the same time. The studio saw dollar signs and is in the process of reworking his deal to snatch up the story arc."...says THIS ARTICLE at Cinematical. Still no word on who'll direct, although Raimi hasn't completely discounted the notion & has a somewhat clearer slate now that Del Toro has been announced as director of THE HOBBIT films (Raimi was seen as a front runner for some time).