Michael Gillio will be penning the script. Hasbro’s Brian Goldner and Stephen Davis are producing.
The pic will be one of the first projects to go into production for the newly created AllSpark Pictures. Launched last October, production company aims 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 film has been in development for some time but the lawsuit between Sweetpea Entertainment and Hasbro about ownership of sequel rights delayed progress. Once the settlement was finalized in 2015, Hasbro moved the project from Warner Bros. to Paramount and eventually to AllSpark after announcing the new studio.
McKay has been high on various studios’ lists since helming “The Lego Batman Movie” movie last year; he went on to land the coveted directing job for the Warner Bros. and DC movie “Nightwing.” McKay is also an exec producer on the “The Lego Sequel” which is currently filming.
McKay is repped by UTA and Rise Management.
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