It’s always a problems film companies face. When they buy the rights to something, there are always time limits put on it, so that if they don’t actually use the rights for a specific amount of time, they lose them. It seems Sony is facing this issue at the moment with Ghost Rider. They’ve been working on a sequel to the Nic Cage movie for quite a while now, which will both reinvent the character and continue on from the previous film.
However the clock is ticking. According to Vulture, if they’re not shooting something Ghost Rider related by November 14th, the rights will revert back to Marvel and the comic company’s new owner, Disney. Obviously Sony don’t want to lose their option on the Ghost Rider character, so the question then becomes, whether they can get a movie going that quickly, and whether Nic Cage can fit into that timetable.
Cage has got a packed schedule and it’s not clear whether he has the time to return to Ghost Rider before the November deadline. Sony is currently seeking an extension on the rights, but that will be up to Marvel/Disney. If they can’t get one, the studio may be forced to find someone new to step into the flaming skulled one’s shoes (it’s been said a similar situation is why we got Punisher: Warzone), and it seems they’re prepared to do that rather than lose the rights. At the moment things are still up in the air, but with time running out, expect Sony to come up with some answers pretty soon.