So what is Sylvester Stallone up to after going home empty-handed at the 2016 Academy Awards ceremony? Well, he isn't sitting at home sulking for one thing. The Creed star hit up CinemaCon 2016 to announce that he is partnering with the new studio STX Entertainment on an upcoming project.

STX Entertainment might be a relatively new player in Hollywood, but they are the studio behind such films as The Gift, The Boy and recent theatrical release, Hardcore Henry. The group is known for taking risks and giving filmmakers creative freedom. Their slate is a mixture of innovative ideas, horror and action films and comedies all with reasonable budgets.

Now, STX Entertainment film chief Adam Fogelson and Stallone stayed mum on the details of the project they're now collaborating on, not even sharing the name of the picture. However, Stallone did say that this joint venture is a "happy medium" with regards to studios and filmmakers. He added that STX Entertainment is like a "modern throw back." To him it's like "where Rocky and Rambo came from." Stallone closed out by promising the "best is yet to come and keep punching!" Could that be a clue? Punching? Probably not, since it's safe to assume he doesn't mean Creed 2 (which is currently being developed by MGM).

Sly Stallone

Deadline is reporting that "Lawrence Grey is producing the Stallone pic via his Grey Matter Productions shingle." Now Lawrence Grey has produced some mild, senior-aged comedies like the Robert De Niro and Michael Douglas-starring 2013’s Last Vegas and Meryl Streep’s and Tommy Lee Jones’s 2012’s Hope Springs, but his Grey Matter Productions shingle is now producing horror films like 2015’s Hidden or the upcoming James Wan-produced Lights Out. So, clearly Grey gets comedies and horror films, but he's a newcomer to the type of heartfelt action that Stallone is best known for. This venture could mean new ground for Stallone. Can you imagine Sly in a horror film?

At CinemaCon, Fogelson also debuted a first look of the studio’s initial co-production with China. The film stars Jackie Chan and Pierce Brosnan and has a working title of The Foreigner. The film breaks new grounds for Chan by allowing him to really flex his acting muscles. The film promises to showcase Chan in a deep and emotional role as a grieving father seeking revenge, but still rewards loyal fans with plenty of action. Maybe Chan’s film is a sign of things to come for Stallone's oh-so-secretive project? Here’s to hoping it's not just another mild-mannered senior-aged comedy in the vein of Grudge Match, anyway.

NEXT: Stallone Thinks Rocky's Journey May Be Done

We'll bring you more information on Stallone's new film (including, the actual title) as it becomes available. Creed 2 is currently projected to reach theaters by Fall 2017.

Source: Deadline