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This year, Stallone reprised his iconic role in \"Creed,\" a revival of the franchise directed by Ryan Coogler and starring Michael B. Jordan. Stallone is nominated for an Oscar for best supporting actor for \"Creed,\" but he said he almost didn't take the role.

\"I never wanted to do this movie. I thought sick Rocky is exactly what is so counter-intuitive to what the optimistic aspect of what Rocky really is designed for. ... If you're afraid of something, that's the commitment of the artist. That's his duty to pursue the unknown, to go some place where he's literally at odds with himself,\" Stallone said of deciding to take the role.

And nearly 40 years since his first Oscars appearance, Stallone said he is cherishing every moment.

\"This is a really special moment in my life because there are not that many moments left. You know they are really getting very special,\" he said.

Get real-time updates as this story unfolds. To start, just \"star\" this story in ABC News' phone app. Download ABC News for iPhone here or ABC News for Android here.

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