UPDATE! Sylvester Stallone overseeing a new cut of Walter Hill’s Bullet to the Head?

UPDATE: The filmmakers behind BULLET TO THE HEAD have chimed in denying Twitch’s original report regarding the editing of their upcoming project. Over at Ain’t It Cool News, Sylvester Stallone himself tells Harry Knowles that the report was “an egregious lie, I have nothing to do with the editing to BULLET TO THE HEAD. Walter is doing a FANTASTIC job! I think it is a FANTASTIC job and he’s editing it!”

Meanwhile, Warner Bros issued the following statement to IGN: “Contrary to recent inaccurate and unfounded reports that Sylvester Stallone had taken over the editing of BULLET TO THE HEAD, director Walter Hill continues his editing of the movie. Walter Hill said today, ‘I’m currently finishing up and locking reels on the movie — as to the content and style of the film, Sly and I are in perfect sync. I’m delighted with the way the film is turning out and hopefully so will the audience.'”

Twitch’s Todd Brown is sticking to his guns on this one, though, saying that his source on this is “solid”. Personally, I’m getting the whiff of damage control on the part of Warner Bros and the filmmakers. Stallone has had the reputation of tinkering with the films he’s been a star of for years. And it should be noted that Warner Bros side-stepped the bigger question as to why the film was removed from their release schedule in the first place…

March 5, 2012: A little over a week ago, it was reported that the Walter Hill/Sylvester Stallone action joint BULLET TO THE HEAD had been dropped from Warner Bros’ release calendar with no word on when action junkies might be able to expect it. Everyone naturally assumed the worst.

In comes Twitch to the rescue with word from their sources saying that the film will likely be seeing a November release date. That’s good! But why the postponement in the first place? Apparently, Stallone has muscled his way into Walter Hill’s editing room and will be “overseeing a new – and presumably final – cut of the film.” That’s… huh? Why bother getting a director like Walter Hill in the first place if you’re going to relinquish him of final cut? Should we trust in Sly? Or will his ego kill a film that’s already seen its fair share of developmental problems?

BULLET TO THE HEAD – starring Stallone, Sung Kang, Adewale Akinnuoye-Agbaje, Jason Momoa, and Sarah Shahi – is based on a graphic novel and “tells the story of a New Orleans hitman (Stallone) and a New York City cop (Kang) who form an alliance to bring down the killers of their respective partners.”