Hollywood Reporter Story about Reykjavik

Michael Douglas to Play Ronald Reagan in Indie ‘Reykjavik’ (Exclusive)

Michael Douglas is ready to be sworn in as 40th President Ronald Reagan.

The actor and active Democratic fundraiser is in discussions to star as the actor-turned-Republican leader in the indie Reykjavik. Brit helmer Mike Newell (Harry Potter and the Goblet of Fire) is in talks to direct the film that once was being eyed by Ridley Scott as a directing vehicle.

Film takes place over a few days in 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. The producers are now looking to find their Gorbachev.

Participant Media, whose mandate is to create awareness of the issues that shape lives, will finance the $10 million film, which is scheduled to begin shooting in March in Germany. Participant is no stranger to hot-button political topics, having backed the Oscar-winning documentary An Inconvenient Truth as well as upcoming films that tackle everyone from Abraham Lincoln to Chilean dictator Augusto Pinochet.