The Sharknado star is in talks with producers of the anticipated film to play the nemesis of Joe Exotic, her manager and business partner, Philippe Ashfield, confirmed to PEOPLE.
"We can't say much other than she is being considered by the producers of the Tiger King production," Ashfield said in a statement.
Reid, 44, is a fan of the Netflix docuseries and found it "extremely interesting," Ashfield shared with Page Six. "She feels she could get into the character of Carole Baskin very well … and she has a similar look to [Baskin],” he added.
The seven-part Netflix show Tiger King: Murder, Mayhem and Madness focuses on the long-standing, increasingly bitter rivalry between Joseph Maldonado-Passage (a.k.a. Joe Exotic), the now-imprisoned founder of an exotic animal park in Oklahoma, and Baskin, who runs an exotic big-cat sanctuary, Big Cat Rescue, in Citrus Park, Florida.
While information about the upcoming live-action spinoff has yet to be released, there are several other Tiger King adaptations in the works.
The show, produced by Imagine Television Studios and CBS Television Studios, is based on the Texas Monthly article “Joe Exotic: A Dark Journey Into the World of a Man Gone Wild,” by Leif Reigstad. It will follow Exotic as he fights to keep his Oklahoma zoo open — even at the risk of his own sanity.
The role marks the first television series role of Cage's career.