The film is being directed by Ryan Coogler and is currently filming in Philadelphia. Creed sees Sylvester Stallone reprise the role of Rocky Balboa. Fantastic Four's Michael B. Jordan will play the son of Balboa's rival and friend Apollo Creed.
Here's the official synopsis, in full (via Philadelphia Magazine):
Adonis Johnson (Jordan) never knew his famous father, world heavyweight champion Apollo Creed, who died before he was born. Still, there's no denying that boxing is in his blood, so Adonis heads to Philadelphia, the site of Apollo Creed's legendary match with a tough upstart named Rocky Balboa.
Once in the City of Brotherly Love, Adonis tracks Rocky (Stallone) down and asks him to be his trainer. Despite his insistence that he is out of the fight game for good, Rocky sees in Adonis the strength and determination he had known in Apollo—the fierce rival who became his closest friend. Agreeing to take him on, Rocky trains the young fighter, even as the former champ is battling an opponent more deadly than any he faced in the ring.
With Rocky in his corner, it isn't long before Adonis gets his own shot at the title…but can he develop not only the drive but also the heart of a true fighter, in time to get into the ring?
Creed also stars Tessa Thompson (Selma, Dear White People) as Bianca, a local singer-songwriter who becomes involved with Adonis; Phylicia Rashad (Lifetime's Steel Magnolias) as Mary Anne Creed, Apollo's widow; and English pro boxer and former three-time ABA Heavyweight Champion Anthony Bellew as boxing champ "Pretty" Ricky Conlan.
Coogler directs from a screenplay he wrote with Aaron Covington, based on characters from the "Rocky" series written by Sylvester Stallone. …
Opening on November 25, 2015, the film's production is being overseen by MGM. It will be distributed worldwide by Warner Bros. Pictures, a Warner Bros. Entertainment Company, with select international territories as well as all television distribution being handled by MGM.