It would seem 20th Century Fox simply does not want to be out of the James Cameron/Sam Worthington business. And why would they want to be? Separated, the two haven't been up to anything too landmark for a while (our apologies to Sanctum and Clash of the Titans), but combined they draw in billions of box office dollars. That's precisely why Fox will no doubt throw a ton of money at Avatar 2 and 3 and why they're now poised to throw a pile of money at a new sci-fi epic with the pair's name attached to produce.
The movie is called Myth and we know next to nothing about it at this point. What we do know is simple and comes to us via the Hollywood Reporter. Screen (and video game) writer Will Staples has an idea for something that's large scale and sci-fi and that's promising enough to attract James Cameron, Sam Worthington and Lorenzo di Bonaventura as producers. The only clues given as to what Staples' Myth is actually about are the names involved: it's going to take a lot of technical wizardry and green screen magic to bring it to life.
As for when Myth will actually be brought to life, THR has no time line, merely a warning that this deal is in the early stages and is just as likely to fall apart as it is to solidify.