The companies will also collaborate on developing TV programming.
The partnership will see the two companies collaborate primarily on live action and animated films, with Hasbro’s Allspark Pictures and Allspark Animation playing an active role alongside Paramount. The companies will also collaborate on TV programming.
Paramount will also distribute the projects produced under the partnership worldwide.
Furthermore, the agreement expands the existing relationship between both companies. Previously, Hasbro and Paramount partnered to create five
movies as well as two
films. The first
, is also slated for release in December 2018.
"Paramount has been a valuable partner of Hasbro's for more than a decade, and we're looking forward to taking our relationship to the next level," says Brian Goldner, chairman and chief executive officer,
Furthermore, Paramount will distribute the projects produced under the partnership worldwide.
Additionally, Paramount and Hasbro will partner on financing projects at varying levels of investment.
"Hasbro has an enormous array of exceptional brands, so this expansion of our relationship is incredibly exciting," says Jim Gianopulos, chairman and chief executive officer, Paramount Pictures. "We look forward to working with Brian Goldner and Stephen Davis and the Hasbro and Allspark teams to create extraordinary film properties for all audiences."
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