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Michael Douglas, shown at the Sundance Film Festival in Park City, Utah, in January 2007. He starred in the original film Wall Street. ((Carolyn Kaster/Associated Press))

A sequel to Wall Street, the 1987 film that for many defined the cutthroat financial world of the 1980s, is in the works, according to media reports.

Reports in the New York Times and Variety indicate original producer Edward Pressman has signed a deal with Twentieth Century Fox to develop plans for the sequel, tentatively called Money Never Sleeps, a reference to one of the famous phrases spouted by the first film's star, Michael Douglas.

Director Oliver Stone, who co-wrote and helmed the original film, has not signed on for the new project, which is being developed with a return for Douglas — and his infamous character Gordon Gekko — in mind.

Gekko ends the first film in jail, after being sold out by his protege, a stockbroker portrayed by Charlie Sheen.

Playing the corrupt and predatory character netted Douglas an Oscar for best actor.

Though considered only a moderate success at the box office when it was released, Wall Street had a large following in the world of finance and had surprising reach, including influencing corporate fashion as well as later films about the business world.

The suspender-wearing Gekko has been both reviled and revered as an uber-aggressive corporate shark and for his memorable pronouncements, including his famous "greed is good" speech.