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Mattel Inc., Paramount Global’s
PARA,
Paramount Pictures and Temple Hill Entertainment plan to develop an American Girl live-action movie, the toy maker said late Wednesday.
The movie would come on the heels of Mattel’s
MAT,
wildly successful “Barbie,” the highest-grossing film this year. The toy maker did not say when American Girl, lifelike dolls representing girls and young teens of several walks of life through different historic periods, would be on screens.
Mattel reports American Girl revenue is its own segment, and said in late October that American Girl sales had dropped 13% in the third quarter.
“American Girl is a beloved franchise, rich in history and storytelling with millions of devoted fans,” Robbie Brenner, president of Mattel Films, said in a statement. “We are excited to continue Mattel Films’ momentum and collaborate with Paramount Pictures, Temple Hill Entertainment, and Lindsey Anderson Beer to bring American Girl to life on the big screen.”
See also: Hasbro to lay off more workers amid toy sales slump
Beer, the writer for “Pet Sematary: Bloodlines” and “Sierra Burgess is a Loser,” is retained to write the screenplay and produce, the companies said.
Mattel in February said it was relaunching Barney, hoping to tap on millennial nostalgia about the friendly purple dinosaur.
Shares of Mattel edged lower in the extended session Wednesday after ending the regular trading day up 2.2%. The stock has gained 6.5% this year, compared with an advance of around 23% for the S&P 500 index
SPX.
