Terry Rossio, co-screenwriter for all three Pirates of the Caribbean films thus far, and is working on the fourth, has made an announcement and denied the circulating rumors about Pirates of the Caribbean 4. The rumors have alleged that Johnny Depp is making a whopping $56 million for the fourth film to Sacha Baron Cohen and Russell Brand co-starring to Tim Burton directing. Rossio clears things up:

For the record, none of the recent Pirates 4 rumors have any truth, including the so-called record 50 million dollar payday for Depp.
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Some pretty funny stuff, though. Sacha Cohen? Tim Burton? Studios are way too protective of their franchises for that sort of thing.

The only thing that has been officially announced so far is that Johnny Depp will return as Captain Jack Sparrow in the fourth film.

No production date has been set.