Sylvester Stallone has signed up Little America, which will be directed by Rowan Athale, whilst Michael Bay will serve as an executive producer.
The plot of the film sees Stallone, 73, play a former Army Ranger hired by an Asian billionaire to find his daughter in a dystopian future where the US has become bankrupt and turned into a war zone.
Stallone's character will be joined by the highly skilled sister of the missing woman and the pair must navigate the dark underbelly of Little America, a walled-off city within a city in Hongkong where many Americans have fled.
Universal had previously won a bidding war for the script, which has been written by Athale, but have since pulled out of the project.
It will now be produced by Balboa Productions and AGC Studios, with Bay executive producing with his outfit Platinum Dunes.
The film has been described as being reminiscent of John Carpenter's iconic 1981 sci-fi action movie Escape From New York, which starred Kurt Russell and was set in a crime-ridden, futuristic America.
Stallone is no stranger to the science-fiction genre having starred in 1993's Demolition Man, 1995's Judge Dredd' and 2017's Guardians of the Galaxy Vol. 2.
Shooting is set to begin this summer, although Stallone will film superhero thriller Samaritan, by Overlord director Julius Avery, before then. — BANG
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