Michael Douglas Reveals "Wall Street" Sequel In The Works

April 29, 2009 1:08 p.m. EST

Los Angeles, CA (CNS) - Michael Douglas is bringing back greed into the big screen. The 64-year-old actor reveals a sequel to the 1987 blockbuster film "Wall Street" is in the works.

Douglas, who won a Best Actor Oscar for his role as an unscrupulous corporate raider in the first film, is reprising his role. He is also re-teaming with writer/director Oliver Stone for the 20th Century Fox project.

According to the trades, the story will pick up with Gordon Gekko (Douglas) guiding his new young protégé. Shia LaBeouf is in talks for the role.

Douglas tells Ellen DeGeneres during an interview on her show, "It starts up a couple years ago. Gordon Gekko has just got out of jail and we kind of deal with all the issues that are going on now. It's an excellent script. I'm really excited about it."

The first film featured Charlie Sheen as a young stockbroker who, desperate to win Gekko as a client, chose big pay day over morality.

Production will kick off in the summer.