Kapner shares screenplay credit with David Lindsay-Abaire for "Oz the Great and Powerful." His screenwriting credits include "The Whole Nine Yards" and "Days of Wrath."
The Hollywood Reporter said the next "Oz" movie would follow the further adventures of Franco's character, a Kansas carnie transported by a cyclone to the magical world of Oz.
"Oz the Great and Powerful" -- made for a reported $215 million -- is expected to gross about $90 million in its opening weekend, the Los Angeles Times reported, citing sources who have seen prerelease audience surveys. Disney, which is releasing the film, is projecting an opening of about $75 million, the newspaper reported Thursday.
Celebrity Families of 2014 [PHOTOS]
James Wan tapped to direct 'The Conjuring 2'