59-year-old actor Sylvester Stallone is stepping back into the ring to play Rocky Balboa in "Rocky 6," Production Weekly reports.

The new film will see Balboa come out of retirement to fight a few low-profile local fights, but ends up in the center of a media firestorm when he is approached to battle the current heavyweight champion, Mason "The Line" Dixon.

Stallone will direct the movie with shooting to begin in December in Los Angeles.

Stallone will also reprise his role as John Rambo in the fourth installment of the action franchise "Rambo," scheduled for release in September 2006.