Two iconic Hasbro properties are finally having their long-awaited crossover as, according toa recent report from Deadline, Paramount has announced that a film featuringTransformersandG.I. Joeis officially in the works. No director is attached to the project just yet, but the film will be executive produced bySteven SpielbergwithLorenzo di Bonaventurareturning to produce alongsideMark Vahradian,Michael Bay,Tom DeSanto, andDon Murphy.

With the popularization of the cinematic universe in Hollywood, thanks in part to Marvel, a crossover between theTransformersandG.I. Joehas been seen as inevitable for a while. However, it wasn’t until the recent release ofTransformers: Rise of the Beastslast year that fans finally got to see a tease of what’s to come, with the ending featuringAnthony Ramos‘ characterbeing recruited to the secretive military organization known asG.I. Joe. Whether the upcoming film will feature the return of Ramos remains unknown for now, but one can’t help but be excited over the thought of the two Hasbro properties sharing the screen together.

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The two properties have previously existed as independent franchises, withTransformerstaking the lead withseven live-action films.G.I. Joepreviously had two films released in 2009 and 2013, respectively, before recently attempting a reboot in 2021 with aSnake Eyesspin-off starringHenry Golding. However, the movie ended up becoming a box office bomb, leading Paramount to scrap plans for any additional follow-ups. Now, with Transformers stepping onto the stage alongside them, it looks like the Joes have a new chance to establish their presence on the big screen.

Hasbro Has Plenty of More Exciting Projects in Store

While the release of the upcoming project likely remains a while away, there is still plenty for fans to look forward to from Hasbro. Later this year, the Transformers franchise will be returning to its animated roots with a full-length animated film titledTransformers One, which will serve as an origin story for Optimus Prime and Megatron. Additionally, according to recent reports,Margot Robbie, fresh off the success ofBarbie, will be producing an adaption of theclassic board gameMonopolywith Lionsgate. No word yet on when to expect that project, with the movie still in early development. But with so many projects in store, it looks like movies based on toys are the next big thing.

No release date for the untitledTransformersandG.I. Joespin-off has been set yet. Stay tuned to Collider for further updates.