"Terminal" follows an immigrant (Hanks) who takes refuge at a New York airport after a war wipes his country from existence, thereby rendering his official documents worthless. Variety says Spielberg is negotiating to direct the film -- with Hanks on the marquee Spielberg's involvement is pretty much assured -- and filming is likely to begin later this year.
And this is where things get interesting. Variety also says that Spielberg could have enough free time in his pre-"Terminal" schedule to work on "Indiana Jones 4." The anticipated sequel is tentatively slated for a 2005 release, but the trade magazine astutely notes that Paramount wouldn't have any objections to receiving a big, lucrative "Indy" move in time for summer 2004.