A sequel or prequel to I Am Legend was mentioned even before the film was released, but Warner Bros. has officially moved forward on the project. According to reports, Warner Bros. just recently closed a deal with producer Akiva Goldsman and Overbrook Entertainment. While they are planning on Will Smith's return, he has not officially signed on at this point in time.
Arash Amel has been brought in to write the script and it is said that Will Smith won't commit until he reads it. The interesting part of Deadline's report is that they are saying that this is NOT a prequel, so that makes us wonder how they will handle the ending of I Am Legend if they want to move forward with Will Smith's character.
The original film was directed by Francis Lawrence (Constantine) in 2007 and grossed $585 million worldwide. I Am Legend, The Omega Man, and The Last Man on Earth were all based on 1954 novel by Richard Matheson.