Baltasar Kormakur in Talks to Direct REYKJAVIK with Michael Douglas

According to Variety, the Baltasar Kormakur is in negotiations to direct REYKJAVIK, "chronicling the 1986 Reykjavik Summit which took place during the Cold War."

In development for years, REYKJAVIK is "set against the backdrop of the Chernobyl nuclear disaster," and follows the meeting of "Reagan and Soviet leader Mikhail Gorbachev in Reykjavik to firm up a peace treaty." Michael Douglas is attached to star.

Ridley Scott and Mike Newell were previously in talks to helm the historical drama.

Douglas has won four Golden Globes and two Academy Awards; as producer of 1975's Best Picture, One Flew Over the Cuckoo's Nest, and as Best Actor in 1987 for his role in Wall Street. The actor received the AFI Life Achievement Award in 2009. Douglas took home his fourth Globe for HBO's Behind the Candelabra this year. He'll next be seen in Marvel's upcoming live-action Ant-Man, opposite Paul Rudd.

Kormakur recently wrapped production on Everest, starring Jake Gyllenhaal and Josh Brolin, and has previously directed 2 GUNS, INHALE, CONTRABAND and others.

Photo by Walter McBride