Latest accounts report that Johnny Depp is currently in negotiation with Disney for the second installment of 'Alice in Wonderland'.

According to Deadline, the 'Pirates and the Carribean' actor is nearly closing a deal with Disney to start the production of 'Alice in Wonderland 2'. If  the movie will be pursued by both parties, it will reportedly carry a different title which is 'Into The Looking Glass'.

Many are likewise wondering if Depp will be able to rake much profits this time with the upcoming project. In 2011, the 'Pirates of the Carribean: On Stranger Tides' brought in $100 million. However, his most recent films 'The Lone Ranger' and 'Dark Shadows' did not earn just as much.

Tim Burton will not direct the film but James Bobin who's famous for his work, 'The Muppets'. Nonetheless, Linda Woolverton will be returning to write the screenplay. Apart from 'Alice in Wonderland', she has written many of Disney's films including 'Beauty and the Beast' and 'The Lion King'.