The Financial Times reports that Sacha Baron Cohen has signed up to do a sequel to his popular Bruno movie based on the controversial Kazach journalist, according to Rupert Murdoch, chairman and chief executive of News Corp, whose film division last year released the first Borat film.

Cohen is planning to work on a film to follow Borat: Cultural Learnings of America for Make Benefit Glorious Nation of Kazakhstan, but it will be based on another one of his characters from Da Ali G Show, Bruno, a gay Austrian fashion show presenter.

RELATED: Borat Supplemental Reportings Trailer Teases New Multipart Special on Amazon

Universal Studios won the rights to the new film last year. However, once that is completed, Cohen will "come back and do Borat Two," Murdoch said during an interview at a conference in New York.

Murdoch said his 20th Century Fox film division did look at buying the rights to the Bruno movie but that they were not prepared to outbid rivals as Mr Baron Cohen "would not even show us the script".

Murdoch, speaking at a conference organized by McGraw-Hill, said he had seen the first Borat movie three times and "laughed like hell".