Hasbro has hired seasoned veteran Greg Mooradian to oversee the company’s film division, Allspark Pictures, as it attempts to create a full-fledged movie studio. As president of Allspark, he will oversee film and television production starting in January. Sources say the company has been making an effort to raise money to start its own studio for some time, and is trying to attract funding in the nine-figure range in order to properly develop its own slate of films. The hope is to transform itself into an industry player to rival Marvel Studios.

Hasbro’s lines of toys and games include Mr. Potato Head, Monopoly, and My Little Pony. Its products have inspired films with varying degrees of success. Paramount and Hasbro could not be reached for comment.

The company currently has a deal with Paramount. It wants to expand that relationship so that Paramount isn’t just distributing its movies, but is also partnering on financing films and developing projects.

There’s a longstanding relationship between the companies. Paramount has successfully made films based on Hasbro characters like Transformers and G.I. Joe. Those franchises will not be a part of the new pact. Paramount develops any movies featuring these characters, with Hasbro serving as a producer.

It’s not the first time that Hasbro has contemplated buying a movie and television company. In 2014, the company was in talks to merge with DreamWorks Animation before discussions ended over price disagreements. The studio was also eyeing a purchase of Lionsgate but called off those negotiations after a deal could not be reached. Lionsgate executives and Hasbro leaders disagreed about the sales price.

Mooradian is currently a production executive at Fox 2000. It’s a homecoming of sorts for Mooradian, who previously worked at Paramount, helping guide “Teenage Mutant Ninja Turtles” to the big screen, as well as Hasbro hits like “G.I. Joe” and “Transformers.” He left Paramount in 2013.