In Masters of the Universe, He-Man’s nemesis is the evil wizard Skeletor. In Hollywood, his biggest threat is a list of studio partners who have kept him off the screen for nearly two decades.
The blonde barbarian, based on a popular Mattel toy set, could finally win the day. According to multiple insiders, Amazon MGM Studios is in serious talks to produce a live-action “Masters of the Universe” film from Adam and Aaron Nee, the writing and directing team behind “The Lost City.” Talks with Amazon come after Netflix dropped a planned version of the Nee brothers’ film in July.
Netflix spent nearly $30 million in development costs over two years on the project, which was set to star Kyle Allen (“A Haunting in Venice”). The streamer pulled out when the tentpole’s budget, originally set at more than $200 million, failed to be significantly reduced.
The Amazon talks are tenuous, another source warns, but if the studio moves forward it will have to sign new deals with the Nees to refine the script and direct. Allen is still in the process of taking on the role of He-Man. Mattel and producer Todd Black, who has worked on the film at several former studio houses including Warner Bros. and Sony, are also aiming for a significant theatrical release – something that wasn’t quite on the table at Netflix. Amazon MGM and Mattel did not comment.
Like any good superhero story, this deal has an antagonist who threatens its existence. The rights to “Masters” are tangled in a confusing web that dates back more than a decade until DreamWorks Animation acquired them as part of a larger content library. The deal meant Mattel could use “Masters” characters for film adaptations through 2026, two sources say. With DWA now owned by NBCUniversal, that means the conglomerate could interfere with potential sequels that Amazon MGM wants to develop – an essential option a producer needs when investing hundreds of millions of dollars into a major film.
According to sources, NBCU and Mattel have been in discussions for weeks about a possible rights extension and could reach an agreement. An NBCUniversal spokesman declined to comment.
Several insiders say the budget is under $200 million (around $170 million, according to one source). If the rights negotiations go through, it would be the first big blow for Amazon’s new head of films and streaming, Courtenay Valenti. Before joining Amazon, Valenti was a production executive at Warner Bros., where she worked on the studio adaptation of Mattel’s “Barbie.” The success, which brought in $1.4 billion in worldwide box office and an Oscar, may motivate them to make a deal for He-Man.
The “Masters” characters evoke great nostalgia for some viewers and form the basis of a popular contemporary animated series on Netflix. Coupled with the Nees’ flair for splashy big-screen adventures (they were recently commissioned by Universal to develop a new version of the “Lego” films), Amazon would have been right in its vision of a powerful franchise.
Mattel isn’t hungry for studio partners or development properties. After “Barbie,” films based on “Magic 8 Ball,” “Hot Wheels,” “Polly Pocket” and “Uno” are spreading across the city with renewed enthusiasm. But you have to give it to He-Man – he never stops breaking out of the box and jumping onto the screen.