From ComingSoon.net:
"Just weeks after the He-Man and the Masters of the Universe movie left Warner Bros. Pictures, Mattel is finalizing a deal with Columbia Pictures. Escape Artists will produce the project.
Sony and Escape Artists' Todd Black, Jason Blumenthal and Steve Tisch will now start developing the project from scratch. John Stevenson had been attached to direct but is no longer attached.
In the big screen adaptation of the signature Mattel toy line, He-Man is a brawny prince who transforms into a warrior who becomes the last hope for a magical land called Eternia, which is being ravaged by technology and the evil Skeletor."
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