Hasbro is producing with Paramount under their Allspark Pictures arm.
"Launched simultaneously in 1985 as both a toy line and an animated series, M.A.S.K. stood for Mobile Armored Strike Kommand, an elite strike force that fought crime and terrorism, most notably an organization named V.E.N.O.M (Vicious Evil Network of Mayhem)[...]
Allspark Pictures Archives
Hasbro has announced the second film in their new Allspark Pictures label and it's going to be My Little Pony Allspark is Hasbro's new way of either funding or co-funding films based on their toy lines The recently announced Jem and the Holograms was the first film to be part of the Allspark film slate.
MLP will[...]