Michael Douglas to Portray Ronald Reagan in REYKJAVIK

According to The Hollywood Reporter, Michael Douglas is currently in discussions to star as U.S. President Ronald Reagan in the upcoming indie drama, REYKJAVIK from Participant Media. Kevin Hood penned the screenplay.

The film takes place over several days in the year 1986 when Reagan and Soviet leader Mikhail Gorbachev met for talks in a spa in the Icelandic capital to iron out peace against the backdrop of the Chernobyl nuclear disaster.

"Harry Potter and the Goblet of Fire," and "Great Expectations" helmer Mike Newell is now in talks to direct the film. Ridley Scott will producer along with David W. Zucker, Mark Sennet and Stewart Mackinnon. Shooting is scheduled to begin next March in Germany.

Douglas has won three 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.