Yahoo Movies Netflix scraps American Horror Story star's He-Man movie
The live-action small-screen Masters of the Universe movie has been dropped from Netflix with millions already invested.
Based on He-Man, the popular 1980s Mattel toy, the Masters of the Universe film has reportedly already spent $30 million on development costs and retainers to keep talent on hold.
According to Variety, the streaming giant has officially dropped the project.
American Horror Story and West Side Story actor Kyle Allen was signed on to play Prince Adam/He-Man, with The Lost City directors Adam and Aaron Nee were down to direct.
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A spokesperson for Mattel confirmed to the publication that Masters of the Universe was no longer at Netflix.
Despite the popularity of the comic and its animated incarnations, He-Man has yet to have much luck on the movie format.
The brand has passed through two other studios, Warner Bros. and Sony Pictures, with the film still ending up in the bin.
The publication said five sources stated Netflix cut ties with the flick due to budget concerns.
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Its initial budget was said to be around $200 million. After a back and forth between producers and Netflix to get costs down, a new proposal of $180 million was still too much, with Netflix allegedly not willing to go above $150 million.
The 1987 movie Masters of the Universe, which starred Dolph Lundgren as He-Man, Frank Langella as Skeletor and a then-early career Courteney Cox as Julie Winston, gained a cult following.
Netflix is still attached to two animated versions of the He-Man story. There are three seasons of He-Man and the Masters of the Universe on the platform with voiceover work from actors like Stephen Fry and George Takei. Master of the Universe: Revelation's two seasons have featured Buffy superstar Sarah Michelle Gellar, Game of Thrones baddie Lena Headey and Star Wars OG Mark Hamill.
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