Per Rottentomatoes.com:
“It comes from Variety — otherwise I probably wouldn’t believe it: Sylvester Stallone will write and direct a biopic about legendary author, drug addict, poet, and madman Edgar Allan Poe. Sly’s been sitting on his screenplay since 2002, but recently signed a deal with Nu Image/Millennium Films to get the project going.
No casting news has been announced just yet, but apparently Mr. Stallone wants Robert Downey Jr. to play the lead role. “Poe” is expected to begin production in Europe later this year. Probably best known for his roles in the “Rocky” and “Rambo” movies, Stallone was also the screenwriter on all eight of those films. As a director, Sly has given us “Staying Alive,” “Paradise Alley,” and the last three “Rocky” entries.”