×
You will be redirected back to your article in seconds

Paramount, Hasbro Sign Five-Year Distribution, Production Pact

Paramount Pictures and Hasbro and teaming up to make live-action and animated films based on the toymaker’s products, as well as original stories. The movies will be developed by Hasbro’s newly launched Allspark Pictures and Allspark Animation. The announcement confirms a Variety scoop from last month about the formation of the company and the appointment of Greg Mooradian, a former Fox 2000 and Paramount executive, as its head. Allspark Animation will be led by Hasbro’s Meghan McCarthy.

The deal extends and deepens a long-standing partnership. Hasbro and Paramount have teamed up on five “Transformers” movies, as well as two “G.I. Joe” films. They are working together on an upcoming Transformers spinoff, “Bumblebee,” which opens in December 2018.

Paramount and Hasbro will finance the projects together, although the two companies did not provide additional financial information in a release announcing the deal. Paramount will distribute the pics. The two companies will also collaborate on television programming, and both will be involved in developing films and producing them. The pact lasts for five years and is exclusive.

The move comes as newly minted Paramount Chairman and CEO Jim Gianopulos is looking to rejuvenate the studio after a bruising period at the box office. Gianopulos replaced Brad Grey as studio chief last spring. In recent years, the studio has suffered a string of commercial disappointments, with the latest “Transformers” film, “The Last Knight,” underperforming at the box office. Other recent movies such as “Baywatch” and last weekend’s “Suburbicon” failed to resonate with audiences. Gianopulos has made several notable moves since taking the reins, extending a partnership with key financial partner Skydance Media and convincing “The Fast and the Furious” producer Neal Moritz to come to the Paramount lot.

Popular on Variety

More Film

  • Angelina Jolie is Maleficent in Disney’s

    Box Office: 'Maleficent: Mistress of Evil' Tops 'Joker,' 'Zombieland'

    “Maleficent: Mistress of Evil” is on track to give Disney another first place finish after scoring $12.5 million in Friday’s domestic ticket sales. If estimates hold, the Angelina Jolie-led film should finish the weekend with about $38 million — well below earlier forecasts but enough to top holdover “Joker” and fellow newcomer “Zombieland: Double Tap.” [...]

  • Maelle Arnaud

    Lumière Chief Programmer Maelle Arnaud: 'Film History Doesn't Have Parity'

    LYON, France   — As the Lumière Institute’s head programmer since 2001, Maelle Arnaud helped launched the Lumière Festival in 2009 and has watched it grow in international esteem over the decade that followed. This year, the festival ran 190 films across 424 screenings in theaters all over town. The festival will come to a [...]

  • Girl with Green Eyes

    Talking Pictures TV: Bringing the Past Back to Life in the U.K.

    LYON, France – Since its launch in 2015, Talking Pictures TV has become the fastest-growing independent channel in the U.K. with a growing library of British film and TV titles that span five decades, according to founder Noel Cronin. Noel Cronin attended the Lumière Festival’s International Classic Film Market (MIFC) in Lyon, France, where he [...]

  • Wings of Desire

    German Heritage Sector Applauds Increased Digitization, Preservation Funding

    LYON, France  — Germany’s film heritage sector is celebrating a new federal and state-funded initiative launching in January that will provide €10 million ($11.15 million) a year towards the digitization and preservation of feature films. Rainer Rother, the artistic director of the Deutsche Kinemathek, outlined the plan at a panel discussion at the Lumière Festival’s [...]

  • 'QT8: Quentin Tarantino, The First Eight'

    Film Review: 'QT8: Quentin Tarantino, The First Eight'

    In one of the intermittent revealing moments in “QT8: Quentin Tarantino, The First Eight,” a documentary about the films of Quentin Tarantino that’s like a familiar but tasty sundae for Quentin fans, we see Tarantino on the set of “Pulp Fiction,” shooting the iconic dance contest at Jack Rabbit Slim’s. As John Travolta and Uma [...]

  • Zombieland Double Tap

    Why Emma Stone Was Haunted by Fear of Vomiting While Shooting 'Zombieland: Double Tap'

    SPOILER ALERT: The following story contains a slight spoiler for “Zombieland: Double Tap.” The zombie slayers are back! Ten years after Emma Stone, Woody Harrelson, Jesse Eisenberg and Abigail Breslin first killed dead people walking in “Zombieland,” they’ve reunited for “Zombieland: Double Tap.” “You take stock of your life a little bit,” Stone says of [...]

  • Hereditary

    The Best Horror Films to Stream Right Now

    Good horror movies aren’t always easy to scare up, but with Halloween on the horizon, Variety has compiled a list of some of the best horror films available on Netflix, Amazon Prime and Hulu. NETFLIX Apostle Cult horror meets religious hypocrisy in this creepy gothic thriller, which follows prodigal son Thomas Richardson, who returns home [...]

More From Our Brands

Access exclusive content