From Variety:

Relativity Media is negotiating with Henry Cavill ("The Tudors") to star as Theseus in the Tarsem Singh-directed "War of the Gods."

At the same time, Warner Bros. is in talks with Sam Worthington to play the role of Perseus in the Louis Leterrier-directed "Clash of the Titans."

Deals for both actors are expected to be worked out, keeping the Greek mythology-themed projects on a parallel track. Both films are expected to begin production by late winter or early spring.

The projects have different plots, but each film will be made for under $100 million because the visual effects will be accomplished using the greenscreen techniques that made "300" so visually arresting.

Relativity got in the Greek game last summer when it bought the Charley and Vlas Parlapanides-scripted "War of the Gods" (Daily Variety, June 26).

Hollywood Gang's Gianni Nunnari and Canton Prods.' Mark Canton are producing with Ryan Kavanaugh.

At the same time, "The Incredible Hulk" helmer Leterrier committed to WB's "Clash of the Titans," a remake of the 1981 film that tells the story of Zeus son Perseus' journey and battles against Medusa. Scripted by Lawrence Kasdan, the WB film is a co-production with Legendary Pictures, produced by Basil Iwanyk of Thunder Road and Kevin De La Noy.

Cavill is best known for his work on Showtime's "The Tudors" but was also on the shortlist to play the Man of Steel in "Superman Returns."

Worthington, one of the finalists for the James Bond role that went to Daniel Craig, is starring for director James Cameron in "Avatar" and plays a pivotal role in the McG-directed "Terminator Salvation."