Following the global success of the US$3.8-billion Transformers film franchise, Paramount Pictures and Hasbro are joining forces once again to establish a cross-property film universe that will feature characters based on five Hasbro brands: G.I. Joe, Micronauts, Visionaries, M.A.S.K. (Mobile Armored Strike Kommand) and ROM.

The agreement will see Paramount work with Allspark Pictures, Hasbro’s film label, to create on-screen stories featuring the interconnected characters.

Allspark will produce the films, while Hasbro chairman, president and CEO Brian Goldner, EVP and chief content officer Stephen Davis, and head of film development Josh Feldman, will continue to collaborate with Paramount in shaping the five story universes. Hasbro and Paramount will also assemble a writer’s room to develop the creative roadmap for G.I. Joe, Micronauts, Visionaries, M.A.S.K. and ROM.

The Michael Bay-directed Transformers films, the fifth of which is scheduled for a 2017 release, have been among the highest-grossing movies of all time. Meanwhile, the two films in Paramount and Hasbro’s G.I. Joe franchise (pictured) have together earned roughly US$675 million worldwide.