Paramount, Hasbro Expand Film Deal

The companies will also collaborate on developing TV programming.

NORTH AMERICA–Paramount Pictures and Hasbro have inked a five-year agreement to produce and distribute a raft of content based on Hasbro’s most popular brands and original stories.

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 Transformers movies as well as two G.I. Joe films. The first Transformers spinoff, Bumblebee, 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, Hasbro. "Storytelling, in its many forms, is revolutionizing our business and differentiating Hasbro in all sectors where we operate. We look forward to collaborating with the talented team at Paramount to create powerful new stories for kids, fans and families globally."

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."