“Masters of the Universe,” a live-action movie based on He-Man and a slew of other popular Mattel toys, is officially dead at Netflix, according to multiple Variety sources.
Insiders said that close to $30 million has already been spent on development costs and the cash that’s been shelled out to hold on to talent – like previously announced lead Kyle Allen and the film’s heatseeking directing duo Adam andThe latest headaches for He-Man and friends only further complicates the property’s torturous journey to the screen, one that goes as far back as 2007. It’s a long road that’s crossed through two other studios, Warner Bros.
Set on the planet Eternia, “Masters of the Universe” largely focuses on the conflict between He-Man, a blonde muscle god, and his devious nemesis Skeletor. The characters formed a much-loved 1980s animated series, which developed a cross-generational fan base during its syndicated runs. For the latest film iteration, the budget came in at over $200 million with cameras set to roll this February, sources said.
The Nee brothers, who came in riding high as directors of Sandra Bullock’s rom-com hit “The Lost City,” worked with producers including Todd Black and Mattel’s Robbie Brenner to get the budget down — even as significant pre-production around the film still took place. Producers brought back a proposed $180 million budget to the table and Netflix still balked, never handing the movie an official green light.
Mattel has reached media saturation in the past months, as Warner Bros. marketing has been at hyper speed promoting the July 21 opening of “Barbie.” While the Netflix fallout over “Masters of the Universe” hasn’t surfaced in the significant amount of press the corporation has participated in, Mattel CEO Ynon Kreiz has been been touting its value in plain sight.the New Yorker recently. “It’s hundreds of pages of characters and sorcerers and vehicles and weaponry — you name it.
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