Paramount has inked a deal with toy manufacturer Hasbro and production company Allspark to team up popular toy lines on the big screen, reported Digital Spy.
This Hasbro shared universe will be based around crossovers between GI Joe, the Micronauts, MASK, Rom Spaceknight and the Visionaries.
Paramount CEO Brad Grey announced the deal: "Paramount and Hasbro have had a longstanding relationship, and we're proud of the success we've enjoyed on the Transformers and GI Joe franchises.
"We're excited to grow our agreement and make even more movies based upon these popular and powerful Hasbro characters and their worlds."
Universal has its own monster movie universe anchored by Tom Cruise, while Warner Bros is launching the DC Extended Universe with "Batman v Superman: Dawn of Justice" next year.