Not only is Rambo set to grace the small screen in the form of a TV drama, but the franchise’s original star - Mr Sylvester Stallone – will be involved on a “creative level”, and there’s even talks of him reprising the legendary role.

Sylvester StalloneSylvester Stallone at the Bullet to the Head premiere

According to Variety, Entertainment One - whose current shows include Rookie Blue and The Firm - has completed a co-development deal with Avi Lerner to make a TV based on Rambo.

"'I'm happy to be partnering with a prolific company like Entertainment One who has a track record of creating high quality programming for their broadcast partners around the world," Lerner said in a statement. "And I'm excited by the prospect of collaborating again with my good friend Sly for an encore in this next phase of the Rambo legacy."

The Rambo franchise saw Stallone play the disgruntled Vietnam War vet and former Green Beret. An outsider – the last surviving member of his troop – Rambo goes solo to avenge his friend’s death. Abused by a local lawmen, he takes advantage of his enemies’ nativity and uses the skills he’s learned to full effect.

After First Blood in 1982, three further films came out, but they would never capture the magic of the first. The quartet of movies made the separate studios $294b in total, proving to be one of the most successful franchises of all time, though.

Syvester Stallone Exependables 3Syvester Stallone arrives on set for Exependables 3

"Rambo fans cover all demographics and we're confident that we'll quickly find this series a home," said John Morayniss, of Entertainment One (eOne) Television. For Stallone’s part, he has already welcomed a return to Rambo; talking to reporters last year in Rome he admitted that he could be tempted for one last hurrah.

"The Rambo thing, that's why I don't retire. I just see a guy unable to go home. He needs war and I see him dying there," Stallone said, in November 2012. "If my damn body holds up, it'll be really good. Otherwise it won't be Rambo fighting, it'll be Rambo fighting arthritis," he added. (BBC)