“Trainspotting” writer Irvine Welsh and “American Psycho” author Bret Easton Ellis are in final talks with the U.K.’s Burning Wheel Productions to co-create a dramatized series based on the national tabloid press culture in the U.S.

With the working title “American Tabloid,” the series will unspool over decades and follow events from a weekly publication where political correctness, morals and ethics are unheard of.

The deal is expected to get confirmed in the coming weeks, with a development schedule to follow.

“To do this production justice we always knew we would require writers who don’t hold back and go way further than most would dare,” said Shelley Hammond of Burning Wheel. “We are just beyond delighted that we are ready to agree a deal to make this happen with the incredible talent of Bret and Irvine. This would be the first time the two have collaborated professionally – and with the support to allow creative freedom we are confident spectacular things will happen.”

The two authors are an ideal fit for the subject matter as they are known for their caustic writing styles. Welsh’s credits also include “Trainspotting” sequel “T2” and “Filth.” Besides “American Psycho,” several of Ellis’ novels have been adapted for the screen, including “Less Than Zero,” “The Rules of Attraction,” and “The Informers.” He wrote the screenplay for Paul Schrader’s “The Canyons,” starring Lindsay Lohan.

Burning Wheel recently produced “Creation Stories,” based on the life of British music industry Svengali Alan McGee from a screenplay by Welsh. It is executive produced by Danny Boyle.