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 Cinematical is reporting that James Vanderbilt (Zodiac) has completed and turned in a working draft for “Spider-Man 4″ to the studio. What’s interesting is the fact that the same draft opens up possibilities for a fifth film as well.

“His story arc has encompassed two films, making ‘Spider-Man 5′ shootable at the same time,” said the site’s source. “The studio saw dollar signs and is in the process of reworking his deal to snatch up the story arc.”

At this point, it is not clear what the arc is or whether production will begin in the near future. Both sides are apparently still trying to negotiate the deal, but the goal is to shoot the fourth and fifth films simultaneously.

Plot Summary: Peter Parker now faces a more greater threat. After a man is accidentally killed in an electrical power outage; a mass murderer has bonded with a symbiote. Thus wreaking havoc as Peter faces this red rampage, as well as an electrifying madman.