Michael Douglas puts his money on "Wall Street"

Tue Apr 28, 2009 7:42pm EDT
 
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LOS ANGELES (Reuters) - Actor Michael Douglas has signed on to reprise his role as ruthless corporate raider Gordon Gekko in a sequel to his 1987 movie "Wall Street," Twentieth Century Fox said on Tuesday.

Oliver Stone, who made the first movie, also has agreed to direct the sequel, which has working title of "Wall Street II" but no scheduled release date, Fox said.

Just as "Wall Street" epitomized the high-flying 1980s with Gekko's motto "greed is good," the sequel is expected to mirror the latest news from the credit crisis and the recession.

In the 1987 "Wall Street," Gekko is a powerful investor who schools a young protege in making money by shady means.

Production on the sequel is expected to begin this summer, and the screenplay comes from Allan Loeb, who helped pen the 2008 gambling movie "21" starring Kevin Spacey.

Douglas in recent years has starred in the 2006 romantic comedy "You, Me and Dupree" and the 2000 drama "Traffic," but his part as Gekko remains among his most memorable roles.

Stone's last film, the 2008 biopic "W." about former President George W. Bush, made only $29 million at worldwide box offices.

(Reporting by Alex Dobuzinskis: Editing by Bob Tourtellotte)

 
<p>Actor Michael Douglas arrives at the National Board Of Review of Motion Pictures awards gala in New York, January 15, 2008. REUTERS/Lucas Jackson</p>