Entertainment - Media News Watch originally published at Entertainment - Media News Watch

Variety has heard from multiple sources that the project is officially dead at the streaming service and Mattel is actively seeking another buyer. Variety has heard from multiple sources that the project is officially dead at the streaming service and that Mattel is actively seeking another buyer.

Netflix had already shelled out quite a bit of cash on the

Masters of the Universe movie, with some insiders saying that close to $30 million has already been spent on development costs; Other sources say it was twice that figure. The movie was to be directed by Adam & Aaron Nee (The Lost City

), and would have starred Kyle Allen (A Haunting in Venice). A spokesperson for Mattel confirmed to Variety that Masters of the Universe is no longer in development at Netflix, but had nothing further to add.Related

Mattel unveils Motherboard, the action figure from Revelation and Revolution in Masters of the Universe
Pre-production on the Masters of the Universe movie was well underway, but the ballooning budget of over $200 million proved to be an issue. Adam and Aaron Nee worked with producers to try to bring it down, and they even considered shooting the movie back-to-back with a sequel in order to amortize the cost, but they couldn’t come to an agreement.

to Universal Pictures, but the studio reportedly turned it down. Mattel is hoping that the projected success of Barbie might help them find a new home for He-Man. Kyle Allen’s role in the film is still technically his, but the WGA/SAG-AFTRA strike will throw the production schedules into chaos, so he may move on to another project. The Nee Brothers have also signed a deal to develop a hybrid live-action/animation LEGO movie for Universal, so they may be out of the picture as well. This latest setback is not the first obstacle that

Masters Of The Universe had to overcome. The project has been in the hands of many directors over the past fifteen years. Jon M. Chu, McG and others have worked on it at different times. Maybe one of these days we’ll see Eternia return to the big screen.https://www.youtube.com/watch?v=K_Sdbh88DkU

Entertainment - Media News Watch originally published at Entertainment - Media News Watch

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