Paramount, Hasbro to Unite G.I. Joe, ROM and Micronauts in One Universe

Taking full advantage of their literal toybox, Hasbro and Paramount Pictures plans to create an interconnected movie universe that unites G.I. Joe, Micronauts, Visionairies, M.A.S.K. and ROM.

"Paramount and Hasbro have had a longstanding relationship and we're proud of the success we've enjoyed on the Transformers and G.I. Joe franchises,” Paramount CEO Brad Grey said in a statement published by The Hollywood Reporter. "We're excited to grow our agreement and make even more movies based upon these popular and powerful Hasbro characters and their worlds."

As the two have already done with "Transformers," Paramount and Hasbro's Allspark Pictures plan to establish a writers' room to create a blueprint for this movie universe.

Paramount has already released two "G.I. Joe" films, 2009's "G.I. Joe: The Rise of Cobra" and 2013's "G.I. Joe: Retaliation," neither of which was greeted warmly by fans or critics. A third installment of the franchise was officially announced in 2013, but it's unknown whether this new deal will change those plans.

Hasbro first teased a potential Micronauts movie, based on the 1970 sci-fi toy line, in 2009. M.A.S.K. (Mobile Armored Strike Kommand), which inspired a short-lived 1980s TV series, was listed as a "new brand" by the toymaker over the summer, suggesting a revival of the action figures.

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