Paramount Pictures and Hasbro, Inc. announced a groundbreaking deal today to collaborate on feature films for five of Hasbro's iconic properties. Under the agreement, Paramount and Allspark Pictures, Hasbro's film label, will establish a cross-property interconnected onscreen universe, featuring the deep stories and great characters from Hasbro brands G.I. Joe, Micronauts, Visionaries, M.A.S.K. (Mobile Armored Strike Kommand) and Rom. Here's what Brad Grey, Chairman and CEO of Paramount Pictures, had to say in a statement.

"Paramount and Hasbro have had a longstanding relationship and we're proud of the success we've enjoyed on the Transformers and G.I. JOE, franchises.We're excited to grow our agreement and make even more movies based upon these popular and powerful Hasbro characters and their worlds."

Allspark Pictures, Hasbro's film label, will produce the films and Brian Goldner (Chairman, President and CEO, Hasbro), Stephen Davis (Executive Vice President and Chief Content Officer, Hasbro), and Josh Feldman (Head of Film Development, Hasbro) have worked closely with Paramount in shaping the interconnected universe for the properties. To develop the creative roadmap for G.I. Joe, Micronauts, Visionaries, M.A.S.K. (Mobile Armored Strike Kommand) and Rom, Hasbro and Paramount will assemble a writer's room which will include some of the most notable creative talent in Hollywood. Here's what Brian Goldner had to say in a statement.

"Hasbro and Allspark Pictures put storytelling at the center of everything that we do. These brands are filled with memorable stories and vivid characters, and this Universe creates a framework for how they will become interconnected. Extending our partnership with Paramount allows us to continue our long-term strategy and overall vision to build dynamic worlds for all of our brands, and we are thrilled to collaborate with them as we develop these properties."

Rob Carlson of WME represented Hasbro in this deal. The Paramount and Hasbro partnership is responsible for the worldwide blockbuster success of the Transformers franchise, which has earned $3.8 billion to-date, and whose films, directed by Michael Bay, are amongst the highest grossing movies of all time; and the G.I. Joe franchise, which have earned more than $675 million worldwide. What do you think about this Hasbro shared universe?