In 2015, The Hollywood Reporter broke the news that Paramount and Hasbro's Allspark Pictures were building a shared universe based on five Hasbro concepts — G.I. Joe, Micronauts, Visionaries, M.A.S.K. (Mobile Armored Strike Kommand) and ROM, assembling a writers room to hammer out the details. The two G.I. Joe films earned a combined $678.2 million worldwide.

The studio has had massive commercial success with its Transformers series, which has earned $4.3 billion worldwide. Its latest installment, Transformers: The Last Knight, opened this year and garnered $605.4 million worldwide, the lowest of the five films. Paramount has the spinoff Bumblebee due out Dec. 21, 2018.

As for Dungeons & Dragons, Jeremy Irons appeared in an ill-fated 2000 adaptation for New Line Cinema. More recently, the property became embroiled in a legal battle over who had the rights to make a film based on it, with a 2015 settlement appearing to pave the way for Warner Bros. to move ahead with a long-gestating project. As recently as last year, Warners was developing a project, with Ansel Elgort in early talks to star. However, The Hollywood Reporter has confirmed the property is no longer with the studio.

Dec. 18, 4 p.m. Updated to reflect that Warner Bros. is no longer developing a Dungeons & Dragons movie.