Cannes 2011: DiCaprio's THE WOLF OF WALL STREET Moves Forward

Deadline reports that a company called Red Granite has acquired the rights to The Wolf of Wall Street, a long-gestating project with Leonardo DiCaprio attached to play the lead role.

We first heard about The Wolf of Wall Street back in July of 2010, when Ridley Scott was looking at the project as a reunion with DiCaprio (following their 2008 collaboration Body of Lies). Originally, the project was supposed to be directed by Martin Scorsese, but when an issue over the rights popped up, Scorsese and DiCaprio moved forward on Shutter Island instead. Then Scott dropped out and Scorsese jumped back on board in February of 2011, but there hasn't been any motion on the project since then.

The script, written by "Boardwalk Empire" executive producer Terence Winter, "chronicles [Jordan] Belfort's rise and fall on Wall Street, a run marked by a hard-partying lifestyle, drug addiction, a 1998 indictment for securities fraud and money laundering. And a 22-month federal prison stretch. Belfort has been sober 14 years and is a motivational speaker."

No director has officially been signed yet, but there are whispers of Scorsese's continued involvement. Red Granite will produce alongside DiCaprio's Appian Way and Alexandra Milchan's EMJAG Productions. Also no word on when the film will begin shooting, but with DiCaprio lined up for Baz Luhrmann's The Great Gatsby adaptation this summer and Scorsese filming a movie called Silence after he finalizes Hugo Cabret, I'd imagine it'll be later rather than sooner.

What are your thoughts on The Wolf of Wall Street? Does this sound like the next Scorsese/DiCaprio team-up?