Variety reports that Warner Bros. and Mattel will be parting company on “Masters of the Universe,” the live-action reinvention of the signature Mattel toy line that WB and producer Joel Silver have been developing since 2007.
Mattel and WB didn’t see eye to eye over the direction of the project and made a mutual decision to let the option lapse this month. The film revolves around He-Man, a prince who becomes a warrior who battles the evil Skeletor for control of his magical homeland.
Mattel will take back the property and set it up elsewhere. The expectation is that director John Stevenson (“Kung Fu Panda“) will stay, but not Silver, who is exclusive to WB.