Hasbro has signed a new five-year exclusive deal for movie and television development with Paramount, according to Variety.  The development will be done by Hasbro’s newly organized Allspark Pictures and Allspark Animation (see "'Deadpool 2,' 'X-Men: Dark Phoenix,' 'Teen Titans,' Hasbro, More").  Paramount will distribute the films and TV series developed under the agreement.

Paramount and Hasbro have collaborated on five Transformers and two G.I. Joe films, so are no strangers to collaborating on movies.  The next announced release from the pair is Transformers spin-off Bumblebee (see "'Bumblebee' Gets Director").

No word on what this means for the movies based on Hasbro subsidiary Wizards of the Coast’s two flagship properties, both of which are based at different studios.  Warner Bros. is working on a Dungeons & Dragons film (see "First Casting for 'Dungeons & Dragons' Movie"), and Fox is developing a movie based on Magic: The Gathering (see "'Magic: The Gathering' Movie").

Hasbro also had a relationship with Lionsgate, which just released My Little Pony: The Movie.