Paramount, Hasbro Strike Movie Distribution, Production Deal
The pact calls for live-action and animated content based on the Hasbro brands after earlier collaboration on the 'Transformers' and 'G.I. Joe' movies.
With a new universe of movie and TV characters and stories in the works, Paramount Pictures and Hasbro on Friday unveiled plans to produce and distribute content based on Hasbro brands and original concepts.
The five-year deal will see collaboration on live-action and animated films, with Hasbro’s Allspark Pictures and Allspark Animation working with Paramount Pictures on development and production. The pact builds on Hasbro and Paramount earlier partnering on five Transformers franchise movies, two G.I. Joe films and the first Transformers spinoff, Bumblebee, set for a Dec. 2018 release.
"Paramount has been a valuable partner of Hasbro’s for more than a decade, and we’re looking forward to taking our relationship to the next level,” said Brian Goldner, chairman and CEO at Hasbro, in a statement.
Terms of the deal were not disclosed, but Paramount and Hasbro will jointly finance the upcoming projects, and Paramount will distribute content worldwide. Paramount and Hasbro will also collaborate on TV projects.
"Hasbro has an enormous array of exceptional brands, so this expansion of our relationship is incredibly exciting," Paramount Pictures chairman and CEO Jim Gianopulos added in his own statement.
Hasbro recently hired Greg Mooradian as president of Allspark Pictures, to oversee live-action film and TV production.