Canadian mini-studio Entertainment One has formed a co-development pact with U.S. independent studio Nu Image to develop and produce a TV series based on the iconic action movie, Rambo.

Under the exclusive option arrangement, eOne and Nu Image, which is co-founded by Avi  Lerner and Trevor Short,  will develop the series and shop it to international and U.S. broadcasters.

The companies are also in negotiations to bring Sylvester Stallone onto the project for creative input, and to potentially reprise his role as Rambo, eOne said in a statement Wednesday.

“Rambo fans cover all demographics and we’re confident that we’ll quickly find this series a home,” said eOne Television CEO John Morayniss in a statement.

The Rambo TV series will be produced by eOne in association with Lerner and Nu Image. Morayniss and Lerner will exec produce, and eOne will handle worldwide rights to the series.

Nu Image, which also controls film distributor Millennium Entertainment, is behind films including The Expendables and The Expendables 2.