Merrick here...

Will Smith and Francis Lawrence are still making noises about reuniting for an I AM LEGEND prequel of some sort, but this doesn't mean other projects won't get in the way. For example: they're apparently circling THE CITY THAT SAILED over at Fox. No deals have been closed at this time.

Written by Andrew Niccol, the story follows a New York City street magician whose daughter, because of family circumstances, lives in England. In exploring a lighthouse one day, the girl discovers a room with magic candles and wishes to be reunited with her father, causing the island of Manhattan to break away and drift across the Pond.

...says THIS ARTICLE over at Hollywood Reporter.

In case you're working to place Andrew Niccol's name, he scripted THE TRUMAN SHOW as well as writing/directing GATTACA, S1M0NE, and LORD OF WAR.

So, I'm wondering if Manhattan floating across the Atlantic is the punch line to the film, or if its oceanic transit is covered in any kind of depth (sinking joke not intended)?

While mulling CITY, Lawrence continues to develop a big screen adaptation of THE WORLD WITHOUT US - an intriguing book that would seem damn difficult to develop as a movie. The project was previously discussed HERE and the book is available for your consideration HERE.