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"G.I. Joe" sequel narrowing in on director

LOS ANGELES (Hollywood Reporter) – Directors F. Gary Gray and Jon M. Chu are looking like the hot candidates to direct Paramount Pictures' "G.I. Joe" sequel.

The franchise follow-up is a high-priority project for the studio, which hopes to have production underway by June for a 2012 release.

Producer Lorenzo di Bonaventura has met with a number of directors in recent days, including Gray, Chu and "Unknown" director Jaume Collet-Serra. Paramount execs will commence their talks this week.

Chu, of course, is no stranger on the studio lot, having directed "Justin Bieber: Never Say Never," which opened to $29.5 million last weekend. Before that, he directed two installments in Disney's "Step Up" dance franchise.

For that matter, neither is Gray, who directed "The Italian Job" for Paramount to $168 million worldwide in 2003. He was last in theaters with the 2009 action thriller "Law Abiding Citizen."

Released in August 2009, "G.I. Joe: The Rise of the Cobra" grossed $150.2 million domestically and $152.3 million internationally for a total of $302.5 million worldwide.

"Cobra" was directed by Stephen Sommers, who previously announced he wouldn't be returning to the franchise.

(Editing by Zorianna Kit)