The Ultimate X fansite claims to have received word from a 20th Century Fox representative who has some good news about X-Men 3:
Regarding that, we are working VERY hard to find the perfect director to do X3. The studio has it narrowed down to a few good men, and talks are being held often between both parties. Two of these three men have worked with Fox Studios before, and have been suggested by not only the head of the studio, but executive producer, Avi Arad. It's getting quite close, and a final decision should be made shortly after final presentations are made to the studio.
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