The production of a Rambo 5 movie has been confirmed via variety. Nu Image/Millennium Films has indeed greenlit this new Rambo movie, the fifth in the franchise, and most probably the last one. Sylvester Stallone will starring and directing.
The plot of Rambo 5 has also been revealed:
"Rambo 5 revolves around Rambo fighting his way through human traffickers and drug lords to rescue a young girl abducted near the U.S.-Mexico border."
Filming should start in Spring 2010, so the release date of Rambo 5 is most likely early 2011, or December 2010 if we are lucky.
Please take all the time you need while developing this movie: if Rambo 5 is closing the Rambo movie series it has to be the best Rambo movie ever!