With Netflix spending more than $ 30 million on the live-action Masters of the Universe movie, the film has officially been cancelled at the streaming service. Not only that, but a lot of other projects based on Mattel's other toy properties have been shelved at the company too. Following the news, Mattel has started shopping for a new buyer for the movies. Masters of the Universe Revelation Review: Kevin Smith’s New Animated Series Has the Power of Grayskull in Full Force! (LatestLY Exclusive).

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