Michael Douglas is in negotiations to portray American President Ronald Reagan in Reykjavik for Participant Media. Mike Newell is in talks to direct

We first reported on this project last May, when Ridley Scott signed on to direct. While he will not be at the helm, Ridley Scott is still attached to produce this drama. The story is a dramatization of the 1986 summit between U.S. President Ronald Reagan and Russian leader Mikael Gorbachev, to discuss a peace agreement in the wake of the Chernobyl nuclear disaster. The talks were was held in Reykjavik, Iceland. Producers are currently looking for an actor to play the U.S.S.R. premier.

Kevin Hood (Becoming Jane) wrote the screenplay, with David W. Zucker, Mark Sennet, and Stewart MacKinnon producing alongside Ridley Scott.

Participant Media is financing the $10 million project, with production scheduled to begin this coming March in Germany.

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