According to Superman-V.com, "there are three production companies: Peters Entertainment...Wonderland Pictures (McG's company)...and Fly By Productions (created especially for Superman)."
If there information is true then it would seem, unfortunately, that McG is still attached to Superman 5. The good news is....
"Seems like Selma Blair might not be a lock for the part of Lois after all. Her agent and publicist have both denied the claims of her being in talks to star in Superman, only saying she has expressed an interest in playing Lois Lane."
That's fine by me. I've been hoping for Rena Sofer (Coupling) or Claire Forlani to get this role.
Superman-V.com goes on to say:
"In crew news, Andrew G. La Marca is not Production Manager (as listed by IMDB), but Line Producer. The Executives who are shepherding this movie are Bob Brassel, Jeff Robinov and Polly Cohen. Nancy St.John, Clint Wallace ,Harald Belker, Chris Vogler, Diana Zock, Dean Satkowski,Karen Teneyck and Mark Zuelzke have all left the movie. The IMDB listing of Michael Fink is false.
A possible location for the film is Washington (for Smallville and a battle scene in Washington D.C.). Here's what their film office said about Superman:
"We did a great deal of pre-production work on this project. However, it is our understanding that this project is on hold. We will contact you once the project is in place."