There have been rumours circulating for some time now that toymaker Hasbro wants to create its own film studio to challenge the box office dominance of Marvel. Earlier today those rumours were confirmed with the appointment of Greg Mooradian as president of the firm’s film division, Allspark Pictures.
The name Allspark is a direct reference to the energy source that brings the Transformers to life and Hasbro is hoping that energy can breathe life into their movie studio.
As president of Allspark, Mooradian will oversee film and television production, starting in January 2018. The company currently has a deal with Paramount. It wants to expand that relationship so that Paramount isn’t just distributing its movies, but is also partnering on financing films and developing projects.
There’s a longstanding relationship between the companies. Paramount has successfully made films based on Hasbro characters like Transformers and G.I. Joe. Those franchises will not be a part of the new pact. Paramount develops any movies featuring these characters, with Hasbro serving as a producer.
Mooradian, who previously worked at Paramount until 2013, helping guide “Teenage Mutant Ninja Turtles” to the big screen, as well as hits like “G.I. Joe” and “Transformers.” Will be tasked with bringing Hasbro’s other properties to the silver screen. Has one of the worlds biggest toy companies Hasbro has an extensive range of successful toys including Mr Potato head, My Little Pony and Monopoly