LATEST: KEANU REEVES' sea-faring adventure as mythical sailor Sinbad has sunk without trace.

Reeves was set to play Sinbad in a new Rob Cohen action film but bosses at Sony have chosen not to go forward with the film, fearing it will be a flop like Cohen's summer (05) disappointment STEALTH.

Sony boss Amy Pascal tells website, "It didn't seem like a good idea for us to make that movie (Sinbad) after Stealth."

Stealth, which starred Jamie Foxx, reportedly cost Sony upwards of $50 million (GBP27.8 million) when it flopped at the box office.

The Sinbad movie, which has been in the works for years in Hollywood circles, was set to follow the continuing adventures of Sinbad and his crew, who are marooned off the coast of China in the eighth century.