Great OZ! Disney is already planning Oz: The Great And Powerful 2

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Mar 8, 2013, 1:05 PM EST

Spider-Man and Evil Dead Director Sam Raimi’s Oz: The Great and Powerful is opening today amidst mixed reviews, but it looks like it’s already getting the green light for a sequel.

According to Variety, the studio’s already commissioned a followup to Oz from screenwriter Mitchell Kapner, who co-wrote the first film with David Lindsay-Abaire.

There are no plot details available (understandably), but Kapner can play with L. Frank Baum’s iconic children’s book The Wonderful Wizard of Oz, which is in the public domain. However, he cannot use any of the 1939 film’s iconic additions. This includes Dorothy’s ruby slippers, for example, since the film is owned by Warner Bros.

It appears that Disney tapped Kapner several months ago ahead of Oz: The Great and Powerful’s opening, confident in Sam Raimi’s film, which stars James Franco, Mila Kunis, Rachel Weisz and Michelle Williams. The studio expects the film to bring in $80 million over this weekend.

However, the mixed reviews may throw a wrench into those projected figuresthen again, it may not. All we can do now is sit back and watch how Raimi's fantasy film will fare. Hopefully it'll do better than Jack the Giant Slayer.

With all the Star Wars films Disney also has in the works, as well as the upcoming Maleficent, starring Angelina Jolie and a new Cinderella, plus a sequel to Tim Burton's Alice in Wonderland, all we can say is that the studio's on fire!

Will you guys be seeing Oz: The Great and Powerful over the weekend? And do you think the $80 million mark for the opening weekend is too far off?

(Variety via Den of Geek)