The famous toy company Mattel Inc. will try its luck in the film business. Following news that the company owns the film rights to most of its bigger properties again, Mattel jumps in the movie business. Mattel brought the world Barbie, He-Man and the Masters of the Universe and Hot Wheels.
Sony Pictures attempted to develop features on He-Man and the Masters of the Universe and Barbie when their options on the properties expired. This means that Mattel will have to go back to the drawing board on films for their properties. It does give them the freedom to control the entire process.
This formula proved successful with Marvel, and the toy company is another in a long list of companies hoping for the same thing. According to reports, Robbie Brenner (Dallas Buyers Club) leads the new division, reporting directly to Mattel’s new chairman/CEO Ynon Kreiz.
Recently, a low-budget film based on the toy line of the same name, Max Steel hit theaters in 2016 to dismal reviews. The film bombed at the box office, grossing under $6.3 million. At the moment, the first film in the chute is a big question mark.
[Variety]
