Hollywood Ink: Rupert Murdoch Unofficially Greenlights Avatar 2

· While most of the reaction to Rupert Murdoch's quarterly earnings call Tuesday concerned the mogul's stance on welcoming Conan O'Brien to the Fox fold, the call was also notable for Murdoch's unequivocal (if slightly subdued) acknowledgment that an Avatar sequel is on the way. Eventually. Someday. Murdoch said the studio is in "very early talks about it" and that James Cameron "has ideas" for a sequel, but warned as well not to "hold your breath for an early one." Which is to say, Christmas 2014? Summer 2015? I think this calls for an office pool. [THR]

Hugh Jackman opts for Chinese, Brad Pitt doubles up with Michael Lewis, and more Hollywood Ink after the jump.

· Not long after Kevin Spacey became the first mainstream American movie star to front a Chinese production, Hugh Jackman has upped the marquee stakes by signing on to Wayne Wang's Shanghai-made Snow Flower and the Secret Fan. Jackman's people argue that it's really just a cameo, but the Chinese backers say he's the leading man. Either way, there's already bad news: No sooner had Jackman dropped in than lead actress Zhang Ziyi dropped out. [THR]

· Because their development process on Moneyball has gone so smoothly, Brad Pitt has once again optioned a Michael Lewis book for the movies. Lewis's forthcoming The Big Short: Inside the Doomsday Machine, will take viewers on a rollicking, action-packed ride through the failures in the housing and financial sectors that precipitated our current recession. And Steven Soderbergh will not direct. [Vulture]

· The Weinsteins say they have a pair of hedge funds interested in helping them buy the Miramax name and library back from Disney. Sure they do. [The Wrap]

· Who's ready for Love, Barack, a romantic comedy featuring a Bollywood star and a supporting player from Avatar depicting the unlikely relationship between an Obama volunteer and a McCain operative? What if it co-stars Ruby Dee and is produced by one of the guys who brought you New Jack City? All right, well, get ready -- they're making it. [Variety]