The success and impressive $220 million worldwide box office gross of 2003?s hit holiday comedy ?Elf? has prompted New Line to start talks with star Will Ferrell to don the tights for an upcoming sequel.

“We’re only going to make this if it’s with Will,” confirmed New Line production president Toby Emmerich. Ferrell would earn $20 million plus for the sequel.

The obvious and hopeful choice to direct would be the original film?s director Jon Favreau, however if he does not return Variety reports that New Line Exec. VP of Production Kent Alterman is the frontrunner. Teamed with screenwriter Scott Armstrong (Old School), Ferrell could easily feel welcomed among familiar comedic cohorts.






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