Los Angeles, Nov. 4 -- In a major update for Sylvester Stallone's celebrated 'Rambo' and 'The Expendables' franchises, Lionsgate has confirmed the casting of actor Noah Centineo to take over the role of John Rambo.

According to Variety, Centineo's casting arrives on the heels of Lionsgate striking a major deal to cover both the 'Rambo' and 'The Expendables' film series with Millennium Media.

Under the deal, the studio has gained the rights to develop and produce "all derivative works, including future films and TV productions" for 'The Expendables' and worldwide distribution rights for the upcoming sixth 'Rambo' film in the franchise.

Lionsgate has also become the lead studio and production partner with Millennium on all future 'Rambo'...