Welcome to the Reel Report, a new, biweekly column informing you of all current happenings in the film industry. From box office reports to which hot actor was just cast in the next big blockbuster, you’ll get the scoop right here. So without further ado, here are the stories that are spreading through Hollywood quicker than money is flying into James Cameron’s pockets (well, not quite that fast).

With a current worldwide box-office total of over $2.2 billion, James Cameron has become king of the world once more as “Avatar” has sunk “Titanic” to become the new highest-grossing film of all time. While this is definitely an incredible accomplishment, higher ticket prices from 3D and IMAX theaters surely played an important part in helping “Avatar” reach such a high total gross as quickly as it did.

Side note for all you purists out there: after adjusting for inflation, “Gone with the Wind” would still be the box office champion with a total gross translating to around $6 billion in today’s economy.

Putting giant blue aliens aside, the other big story in Hollywood has to be Sony’s recent decision to reboot the entire “Spider-Man” franchise. You can say goodbye to director Sam Raimi and star Tobey Maguire, as a completely new trilogy of movies is in the works, to be directed by Marc Webb. Webb did a brilliant casting job in his previous film, “(500) Days of Summer,” so it’s doubtful he’ll disappoint when choosing who will portray Peter Parker this time around. And with a last name like Webb, maybe he was the right man for the job all along. The first film has a planned release date for summer 2012.

When it was first announced that a film was in the works about the founding of the popular social networking site Facebook, many people were skeptical to say the least. Once writer Aaron Sorkin (“The West Wing”) and director David Fincher (“Fight Club”) signed onto the project, though, the skepticism was replaced with intrigue. “The Social Network” is scheduled for release on Oct. 15, 2010 and Jesse Eisenberg (“Zombieland”) has been cast as Facebook CEO Mark Zuckerberg.

Comedy megastars Paul Rudd and Zach Galifianakis are finally teaming up, as they have both struck deals to star in the film “Will,” written by comedian Demetri Martin. The movie’s edgy premise is that every human’s life story is, for the most part, predetermined and written for them by a supernatural screenwriter. Rudd will play the title character of Will, who wakes up one day to find that his “Life Writer” Aimsley (Galifianakis) has quit and for the first time he must live his life completely unscripted. Valerie Faris and Jonathan Dayton of “Little Miss Sunshine” fame will direct.