Even as 65-year-old Sylvester Stallone remains hard at work maintaing his status as a relevant Hollywood action icon, fellow musclebound sexagenarian Arnold Schwarzenegger is actively seeking to resurrect his acting career (following his stint as the governor of California), beginning with a limited appearance onscreen alongside Sly in this summer’s The Expendables 2.

Today, we have an update on the status of Stallone’s other imminent starring vehicle Bullet to the Head, which Warner Bros. recently pulled from its release schedule. Additionally, “Ah-nuld” has dropped a few new tidbits about his upcoming work slate, which includes an original action-thriller with Sly titled The Tomb.

While Warner Bros. previously offered no explanation for why Bullet to the Head was uprooted from its April 2012 release date, Twitch is now reporting that the move was to allow Stallone to oversee a “presumably final” cut of the film. Bullet to the Head is now tentatively being eyed to hit theaters this fall (most likely November).

UPDATE: Warner Bros. has denied that Stallone is overseeing a new cut of Bullet to the Head, with the follow statement (issued via IGN):

“Contrary to recent inaccurate and unfounded reports that Sylvester Stallone had taken over the editing of BULLET TO THE HEAD, director Walter Hill continues his editing of the movie. Walter Hill said today, ‘I’m currently finishing up and locking reels on the movie — as to the content and style of the film, Sly and I are in perfect sync. I’m delighted with the way the film is turning out and hopefully so will the audience.'”

Alessandro Camon (The Messenger) and Bullet to the Head helmer Walter Hill (Red Heat, 48 Hours) are officially credited for adapting Alexis Nolent’s eponymous comic book source material into cinematic form, but it’s previously been reported (by Twitch) that Stallone has made a substantial contribution to the film’s screenplay – ranging from at least a polish job to possibly even a complete script rewrite.

Sylvester Stallone in ‘Bullet to the Head’

Bullet to the Head has been described as a buddy action-thriller with a 1980s vibe, which pairs an aging New Orleans hitman (Stallone) and a New York cop (Fast Five‘s Sung Kang) against a common enemy responsible for killing their respective partners. Jason Momoa (Game of Thrones) is playing said central baddie, while B-movie vet Christian Slater and fan-favorite Adewale Akinnuoye-Agbaje (Oz, Lost) are showing up in supporting roles.

Stallone and Hill are both living relics of a bygone era in Hollywood action fare; hence the logic behind their being brought onboard to contribute creatively (and appear on-camera, in Stallone’s case) with Bullet to the Head. Between this flick and the Expendables sequel, Stallone is aiming to truly recapture the feeling of his “glory days” and deliver some enjoyably old-fashioned cheesy entertainment.

Speaking of wrinkled Hollywood heavyweights who aren’t ready for retirement just yet…

Schwarzenegger talks The Tomb and Black Sands

TheArnoldFans had a chat with Schwarzenegger about his recent work on The Expendables 2 and his comeback starring vehicle The Last Stand, along with some updates on his upcoming projects: The Tomb, which he and Stallone are collaborating on next, and a work previously known as Black Sands (but now appears to have a new title) which is being overseen by Act of Valor helmers Mike McCoy and Scott Waugh.

Schwarzenegger confirmed that The Last Stand in now in post-production, and that he expects to start work on The Tomb very soon. He also mentioned that the titular state-of-the-art penitentiary is in fact “a huge ship out in the ocean, so you can’t escape.” That should add an interesting twist to the proceedings of what otherwise reads like a far-fetched Prison Break-style thriller (only starring Arnold and Sly).

The next item which Arnold says is on his acting plate is a collaboration with McCoy and Waugh, called The Unknown Soldier; presumably, he’s talking about the supernatural action-thriller formerly known as Black Sands, and not an entirely different project featuring Act of Valor‘s stuntmen-turned-directing duo.

While it remains to be seen if Schwarzenegger can indeed still handle the bulk of heavy carrying in an action movie, he’s (for the most part) wisely sticking with projects which pair him with directors who are specialists at delivering hyper-kinetic thrills. That alone should help Arnold look good while kickin’ butt onscreen.

We will continue to keep you posted on the status of Bullet to the Head, The Tomb, and The Unknown Soldier as more information is released.

Meanwhile, you can catch both Schwarzenegger and Stallone on the big screen when The Expendables 2 hits theaters around the U.S. on August 17th, 2012.

Source: Twitch [via Comic Book Movie], TheArnoldFans

Update Source: IGN