Just when you thought that, between "Transformer," "G.I. Joe," "Battleship," "My Little Pony" and "Ouija," Hasbro had just about exhausted its Hollywood possibilities, the company comes up with a surprise.

Deadline reports Fox is cementing a deal with the toymaker to develop a live-action movie based on Play-Doh -- yes, the modeling compound -- with Paul Feig ("Bridesmaids," "Ghostbusters") in talks to direct. "Butter" screenwriter Jason Micallef  will tackle the script.

"Play-Doh" would seem to be Hasbro and Fox's answer to Warner Bros.' blockbuster "LEGO Movie": Both are familiar names -- Play-Doh has been on the market since the mid-1950s -- that provide essentially blank (and colorful) slates for the filmmakers. If "The LEGO Movie" can launch an entire franchise, with spinoffs and a sequel, it's certainly possible "Play-Doh" could do the same.

And if that happens, don't be shocked to read about "Silly Putty: The Movie."