Second installment set in turn-of-century London

This article was corrected on May 31, 2001.

Spyglass Entertainment has closed deals with thesps Jackie Chan and Owen Wilson to star in the sequel to their hit “Shanghai Noon,” “Shanghai Knights.”

Penned by “Shanghai” scribes Miles Millar and Al Gough (Daily Variety, April 4, 2000), pic will be financed by Spyglass Entertainment; Disney will distribute via its Touchstone Pictures label.

Spyglass co-toppers Roger Birnbaum and Gary Barber will produce along with production prexy Jonathan Glickman. Lensing is expected to begin in February, with some location shooting in London.

Set in turn-of-the-century London, adventure-comedy “Shanghai Knights” reteams Chan and Wilson as mismatched buddies who travel to the British capital to uncover a worldwide conspiracy to overthrow the Chinese and British empires.

Millar and Gough, who have an overall deal at Warner Bros. television, created “Smallville” for the WB.

Helmed by Tom Dey, “Shanghai Noon” grossed more than $100 million worldwide and racked up active vid and DVD sales. Spyglass has an option for Dye to direct the sequel.

Spyglass’ slate of forthcoming films includes “Reign of Fire,” which stars Matthew McConaughey and Christian Bale, directed by Rob Bowman; “Count of Monte Cristo,” starring Guy Pierce and Jim Caviezel, directed by Kevin Reynolds; and “Out Cold,” directed by the Malloy brothers.

Company is co-financing Universal’s “Dragonfly,” helmed by Tom Shadyac and starring Kevin Costner, as well as Paramount’s “Abandon,” being directed by Steven Gaghan, starring Katie Holmes.

Prior to the formation of Spyglass, Birnbaum and Glickman were producers of New Line’s “Rush Hour”; they also are aboard “Rush Hour II,” due for release Aug. 3 by New Line.

Wilson, who will next be seen in Ben Stiller’s “Zoolander” for Paramount, is repped by UTA; Chan is repped by Talent Entertainment Group.

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