The script for PIRATES 5 is currently being rewritten by Terry Rossio. Also, Rob Marshall may be directing it.

Marshall has signed a two-year deal with Disney. (It involves him being director of an upcoming Disney film INTO THE WOODS.) He’s staying up-to-date on the development of Pirates 5, although he has not officially committed to being director yet. Along with Johnny Depp, Marshall seems to be waiting on a finished script before he commits to the film.

What Rob Marshall has to say about Pirates 5:

“Terry [Rossio] is writing it and he’s working incredibly hard and he did a draft and rethought it all and started working on it again. You want to make sure you are asking the audience to come back to see an exciting adventure and it has to reach that caliber, and if not there’s no reason to do it. I know Johnny feels the same way: He needs to see a script, but he would be happy — if it’s the right script — to put that hat and sword back on.”

Read more about this at Screen Rant and The Hollywood Reporter.

EDIT: It seems that I caused a little confusion because I misread the articles. Oops! Marshall’s two-year Disney deal just involves him directing Into The Woods - NOT The Thin Man. The Thin Man will be produced by Warner Bros.; Marshall is still directing it though, with Johnny to star in it. :) With that being said, I corrected what I previously wrote. Sorry about that!

Source: The Hollywood Reporter

Pirates of the Caribbean: On Stranger Tides doesn’t hit U.S. theaters until May 20. But screenwriter Terry Rossio has just turned in his script for a planned fifth installment in Disney’s most lucrative film franchise.

Rossio tells THR that the still-untitled script — his first penned without Ted Elliot, who collaborated on the first four Pirates scripts — was delivered to Disney this past weekend. It’s the initial step in putting together the key creative pieces for another Pirates film. Disney would like another installment, given the $3 billion in worldwide grosses for the first three films and the likely huge returns for the fourth movie, the first to be released in 3D.

Producer Jerry Bruckheimer has said he’s in to make a fifth Pirates. And sources say Disney has made overtures to Rob Marshall, who took over directing duties on Pirates 4 from Gore Verbinski, who helmed the first three pictures, to return for another go-round (though no deal is in place for Marshall).

Read more HERE.

Source: Deadline.com

Disney has closed a deal with Terry Rossio to write the fifth installment of Pirates of the Caribbean. This will be the first one without Ted Elliott, his screenwriting accomplice on the first four pictures. The studio is also making moves to bring back director Rob Marshall for his second voyage on the franchise. This comes as his first effort, Pirates of the Caribbean: On Stranger Tides, is moving through post-production for a May 20, 2011 release. I’m told that Johnny Depp has a deal structure to return for a fifth film that will clearly be drawn up for him to reprise Jack Sparrow, though it’s too early to consider him locked. The studio and Jerry Bruckheimer are consumed with the fourth installment, but Rossio’s deal is done.