James Cameron snaps up land in New Zealand

Director James Cameron has purchased a patch of untouched land in New Zealand for $16 million.

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The area, which features a freshwater lake teeming with eels, contains 2,500 acres of farmland in Pounui Ridge, where Cameron and his family hope to grow several crops.

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The "Titanic" moviemaker plans to settle down there in the fall and eventually begin work on the upcoming "Avatar" sequels, which will be filmed at Peter Jackson's studios, where the "Lord of the Rings" films were completed.

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But Cameron insists his fellow pal has nothing to worry about, telling the New York Times, "I'm not there to compete with Peter."

And the Oscar winner, who first grew attached to the country while plotting an expedition to Antarctica from South Island nearly two decades ago, insists he is even considering applying for citizenship, adding, "I've felt an attachment to the place since 1994."