Wednesday, May 30, 2018

Paramount Players and JAKKS Pacific Announce Plans for 'Creepy Crawlers' Feature Film Inspired by Iconic Toy Brand

Original JAKKS Pacific, Inc. Press Release via Business Wire:

Paramount Players and JAKKS Pacific Announce Plans for CREEPY CRAWLERS Feature Film


May 30, 2018 06:00 AM Eastern Daylight Time


SANTA MONICA, Calif.--(BUSINESS WIRE)--Paramount Players, a division of Viacom’s [NASDAQ: VIAB, VIA] Paramount Pictures Corporation and JAKKS Pacific, Inc. [NASDAQ: JAKK] today announced plans for the studio to acquire the feature film rights to CREEPY CRAWLERS™, the iconic toy brand owned by JAKKS Pacific.

Neal H. Moritz will produce with Marc Gurvitz. Toby Ascher and Stephen Berman will serve as executive producers.

Ali Bell and Royce Reeves-Darby will be overseeing for Paramount Players.

Production of the film is subject to the conclusion of definitive production agreements among the parties.

“Creepy Crawlers has been an iconic brand since the 1960’s and we are honored to work with Neal Moritz, Paramount Players, and the Nickelodeon-Viacom Family in bringing it to life on the big screen,” said Stephen Berman, Chairman & CEO, JAKKS Pacific. “We, and the studio, envision the property to be developed into a family adventure film in the vein of Jumanji.”

About Paramount Pictures Corporation

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NASDAQ: VIAB, VIA), a leading content company with prominent and respected film, television and digital entertainment brands. Paramount controls a collection of some of the most powerful brands in filmed entertainment, including Paramount Pictures, Paramount Animation, Paramount Television, Paramount Players, MTV Films, and Nickelodeon Movies. PPC operations also include Paramount Home Media Distribution, Paramount Pictures International, Paramount Licensing Inc., and Paramount Studio Group.

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include BIG-FIGS™, XPV®, Max Tow™, Disguise®, Moose Mountain®, Funnoodle®, Maui®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; and C’est Moi™, a youth skincare and make-up brand. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

©2018 JAKKS Pacific, Inc. All rights reserved.

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

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Plot details are unknown at this time, but the film is set to be based on the toy molds developed originally by Mattel in the early ’60s. The toy was then reimagined by ToyMax in the ’90s and allowed to children to create various bug-like creatures with similar molds and Plastigoop. JaKKS Pacific took over the reins in the early 2000s. Since then, they have introduced pop culture icons like SpongeBob SquarePants and Hello Kitty to the mix.

In recent years, Paramount has taken popular toys like Transformers and G.I. Joe and made them into movies.

Additionally, Moritz recently adapted the popular kids’ book series Goosebumps for Sony.

In addition to Creepy Crawlers, Paramount Players is also working on theatrical movies based on two iconic Nickelodeon properties: a live-action Dora The Explorer movie and a Are You Afraid of the Dark? feature film inspired by Nickelodeon's beloved '90s horror anthology series of the same name. Both are slated to be released in 2019.

More Nick: Plot Of Nickelodeon Movies' 'Wonder Park' Revealed!

Additional source: TheWrap, ComingSoon.net.
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