The 3D toy line, which debuted at the 1939 New York World’s Fair, was one of the first inductees into the National Toy Hall of Fame.

Robbie Brenner, head of film, Mattel and Cassidy Lange, co-president of production, MGM will oversee production.

“Since the 1940s, View-Master has inspired wonder and joy in children of all ages, creating huge opportunities for storytelling,” says Brenner. “MGM Pictures has tremendous expertise and a proven track record in capturing audiences’ imagination through film, and we’re proud to be partnering with them to bring another Mattel franchise to theaters. This marks another important milestone as we transform Mattel into an IP-driven, high-performing toy company.”

“View-Master was the first device that allowed families all over the world to escape their reality and take them places they never thought they could go,” says Jonathan Glickman, president, MGM, Motion Picture Group. “We couldn't be more excited to partner with Mattel to create a family adventure integrating the old school turn-and-click stereotypic device with the modern world of virtual reality.”

The View-Master film announcement comes on the heels of the recently-announced American Girl film, which will also be co-produced by Mattel and MGM.