Below is the real info – from IGN
Arnold Schwarzenegger is set to return to the big-screen, but not in a fifth Terminator flick as recently rumoured, but rather in an adaptation of the 1975 novel Cry Macho.

According to Deadline, the film will feature Arnold as “a horse breeder who won the Kentucky Derby but whose wife and child get killed. He sinks into an alcoholic depression and winds up working for a hedge fund jerk who offers him a choice of getting fired or bringing back the rich guy’s son living with the ex-wife in Mexico.”

There’s no indication as to whether it’s a comedy, drama or action flick, but the story claims that the film will feature a road trip element as well as several plot twists.

Deadline reports that Arnie will pocket $12.5m plus 25% of the first dollar gross, with the financiers taking the project to the Cannes Film Festival next week in the hopes of closing the deal.