Hasbro has hired Greg Mooradian to oversee the firm’s film division, Allspark Pictures, the latest move from the company to create a full-fledged movie studio.
As president of Allspark, Mooradian will oversee film and television production, starting in January 2018.
According to Variety, the company has been making an effort to raise money to start its own studio for some time as it looks to transform itself into an industry player to rival the likes of Marvel Studios.
Hasbro’s lines of toys and games include Mr Potato Head, Monopoly and My Little Pony.
The company currently has a deal with Paramount. It wants to expand that relationship so that Paramount isn’t just distributing its movies, but is also partnering on financing films and developing projects.
There’s a longstanding relationship between the companies. Paramount has successfully made films based on Hasbro characters like Transformers and G.I. Joe. Those franchises will not be a part of the new pact. Paramount develops any movies featuring these characters, with Hasbro serving as a producer.
Mooradian is currently a production executive at Fox 2000. It’s a homecoming of sorts for Mooradian, who previously worked at Paramount, helping guide “Teenage Mutant Ninja Turtles” to the big screen, as well as Hasbro hits like “G.I. Joe” and “Transformers.” He left Paramount in 2013.