The Big Picture

Patrick Goldstein and James Rainey
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Fox revives 'Wall Street' sequel: Oliver Stone back on board

April 28, 2009 | 12:32 pm

Gordongekko It looked like 20th Century Fox's "Money Never Sleeps," the sequel to Oliver Stone's riveting 1987 drama "Wall Street," was dead in the water, especially after the director told MTV News earlier this year that he'd abandoned the project, saying "I dropped out....We couldn't come up with the right way to go about it."

But Fox is now saying the movie has a green light again. Stone is back aboard as director, Michael Douglas will reprise his role as Gordon Gekko and the studio is in negotiations with Shia LaBeouf to play a young Wall Street trader under Gekko's spell -- a somewhat updated version of the character Charlie Sheen played in the original film. The sequel's original writer was Stephen Schiff, who has now moved on, with Allan Loeb ("Things We Lost in the Fire") having done a rewrite of the script. Fox hopes to have the film in production as early as sometime this summer.

The film is now simply going under the title of "Wall Street 2," having shed its original "Money Never Sleeps" moniker. No one is offering a lot of specifics about the storyline, except to say that the focus remains on the Gekko character, whose exploits will closely reflect much of the greed and chicanery seen in the past year on Wall Street.

Photo of Michael Douglas in "Wall Street" by Andy Schwartz.