A new `Expendables` movie is in the works, with Hollywood stars Jason Statham and Sylvester Stallone among the cast members returning as elite mercenaries tasked with carrying out perilous missions. According to Variety, along with Statham and Stallone, franchise vets Dolph Lundgren and Randy Couture will be reprising their roles for the fourth instalment in the action-packed saga, while 50 Cent, Megan Fox and Tony Jaa will be the new entrants to the series.

Scott Waugh will direct the latest `Expendables` instalment from a screenplay by Spenser Cohen with revisions by Max Adams and John Joseph Connolly. The film, from Lionsgate and Millennium Media, will begin production this fall. "We are thrilled to partner with our friends at Millennium Media for the next instalment of the `Expendables franchise," said Jason Constantine, Lionsgate Motion Picture Group`s president of acquisitions and co-productions.