Netflix, Mattel team on 'Masters of the Universe' live-action film
Rich Polk/Getty Images Entertainment

Netflix (NFLX
-3.3%) and Mattel Films (MAT
+3.5%) are teaming up on a live-action film based on the 1980s toy franchise Masters of the Universe.
That marks a transition for a project that was formerly in the works at Sony (SONY
+1.8%).
It's a fit at Netflix, though, considering the streamer already has two animated series that it launched last summer based on the franchise: Masters of the Universe: Revelation and He-Man and the Masters of the Universe.
Actor Kyle Allen, hot off the recent West Side Story, will star in the lead role of Prince Adam/He-Man in a film co-directed by the Nee Brothers.
Masters of the Universe action figures made their debut in 1982, the year before an initial animated series premiered as one of television's first children's syndicated shows.
âMasters of the Universe is an iconic property that shaped the imaginations of an entire generation of kids in the eighties with the message of becoming the best version of yourself. With our partners at Netflix, we look forward to showing audiences that anything can happen in Eternia," says Mattel Films' Robbie Brenner.