Netflix scraps huge comeback movie for beloved 80s franchise

Netflix has scrapped a huge comeback movie for a beloved 80s series, despite already spending more than $44m developing it.

Netflix has scrapped a huge comeback movie for a beloved 80s series.

Despite spending more than $44m on the project, it seems the upcoming film has officially been given the axe by the streaming giant.

The Masters of the Universe – based on the He-Man and other Mattel toys – has been in the works at Netflix since 2019.

The streaming giant already released an animated series, He-Man and the Masters of the Universe in 2021, and two other shows were also in development.

However according to Variety, despite the extortionate amount of money spent on development costs, the project has been axed.

The news reportedly comes after “budget concerns” were raised.

The original 80s cartoon version of He-Man.

The project previously had a tough time trying to find its way to the big screen as it went through both Warner Bros. and Sony Pictures.

Many writers have been involved in the project since 2007, as well as acclaimed directors Jon M. Chu and McG.

Huge names were attached to the film including The Lost City directors Adam and Aaron Nee and lead actor Kyle Allen, 28, who is best known for roles in West Side Story and American Horror Story.

Significant pre-production procedures took place even though producers worked to get the budget down.

Netflix reportedly rejected a $180 million budget as it never officially gave the project the green light.

Although the film is no longer at Netflix, Mattel is reportedly looking for a new home for the film.

CEO of the company Ynon Kreiz recently told The New Yorker: “It’s hundreds of pages of characters and sorcerers and vehicles and weaponry – you name it.

Netflix has now pulled the plug on the show. Picture: AFP

“And then you flip through the pages, and here’s a movie, and here’s a movie, and here’s a TV show. . . . it’s endless!”

The film is based off a toy line franchise of the same name, which was also a hit cartoon series that aired from 1983 to 1985 and consisted of 65 episodes.

The series was so successful that it spawned a spin-off series, She-Ra: Princess of Power, following the adventures of He-Man’s sister, Princess Adora.

A live action movie version was released in 1987 which starred the likes of Dolph Lundgren, Courteney Cox and Frank Langella.

This story originally appeared on The Sun and is republished here with permission.