Paramount, Hasbro Creating Movie Universe Around G.I. Joe, Four Other Brands (Exclusive)

Under a new deal between the studio and Hasbro's Allspark Pictures, G.I. Joe will join up with characters from the Micronauts, Visionairies, M.A.S.K. and ROM brands.

Paramount Pictures and Hasbro are embarking on a new universe of interrelated characters and stories. The studio — which is already in the process of expanding its Transformers universe after four movies based on that popular Hasbro toy line — is announcing a new deal with Hasbro on Tuesday that will see Paramount and Allspark Pictures, Hasbro’s film label, build an interconnected, cross-property onscreen universe featuring characters from five of Hasbro’s other brands: G.I. Joe, Micronauts, Visionairies, M.A.S.K. (Mobile Armored Strike Kommand) and ROM.

Allspark will produce the films, and Hasbro chairman, president and CEO Brian Goldner, Hasbro exec vp and chief content officer Stephen Davis and Hasbro head of film development Josh Feldman are working with Paramount to shape the new universe from the five properties. Just as has been done with Transformers, where Akiva Goldsman led a writers’ room to develop further installments in that franchise, Hasbro and Paramount plan to assemble a writers’ room, comprised of top talent, to develop a creative roadmap.

Paramount's Transformers franchise has grossed more than $3.8 billion to date, and the two G.I. Joe movies, released in 2009 and 2013, have grossed more than $675 million worldwide.

"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,” Paramount chairman and CEO Brad Grey said in announcing the deal. "We're excited to grow our agreement and make even more movies based upon these popular and powerful Hasbro characters and their worlds."

Added Goldner: “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.”

WME’s Rob Carlson represented Hasbro in the deal.