"Variety reports that Warner Bros. and Mattel are parting ways on Masters of the Universe, the new live-action adaptation of the Mattel toy line that the studio and producer Joel Silver have been developing since 2007.
The trade says that Mattel and WB didn't see eye to eye over the direction of the project and made a mutual decision to let the option lapse this month.
Mattel will take back the property and set it up elsewhere. The expectation is that director John Stevenson (Kung Fu Panda) will remain with the project, but not Silver, who is exclusive to WB."
Maybe Fox or Universal can handle this. Who knows? Only Skeletor knows.