After over a decade in development, the long-planned Masters of the Universe reboot may finally be happening. However, the film may not see a theatrical release.
The Hollywood Reporter revealed earlier today that Sony is currently considering its options regarding the Masters of the Universe franchise. As it stands, Sony has its Masters of the Universe reboot slated to hit theaters in 2021, and while Noah Centineo (To All the Boys I've Loved Before) was in talks to play He-Man at one point, though, it's currently unclear whether or not he's still attached to the project. The actor did confirm his involvement in April but the outlet makes no mention of Centineo still being involved with the project.
According to THR, Sony is currently weighing whether or not to find a studio or financier to help with the cost of the project, or sell it to Netflix in hopes of avoiding a potential flop. On one hand, it's an understandable decision. Outside of Spider-Man: Far From Home, which surpassed $1 billion at the worldwide box office, Sony has had plenty of losses this year including the Men in Black reboot, Men in Black: International. Along with notable losses, it's said that concerns over the studio's marketing costs were far too high, especially on films that seemed doomed prior to release.
Sony Pictures Motion Picture Group co-president Sanford Panitch is handling the negotiations between Sony and Netflix, although talks are still said to be preliminary. Netflix, of course, is currently the home to the animated She-Ra and The Princesses of Power and is set to soon launch a He-Man animated series from Kevin Smith, so a Masters of the Universe live-action franchise would fit in just fine at Netflix.
Still, Sony (and Netflix) is looking for a potential new franchise to launch and Masters of the Universe could be just that, assuming the studio hasn't sat on the project for too long.
Masters of the Universe is -- as of now -- set to hit theaters on March 5, 2021.