He-Man to Flex for Warner Bros.

Warner Bros. and Matrix producer Joel Silver have confirmed rumors that they are conspiring to craft another live-action feature film based on the ’80s Filmmation cartoon and Mattel toy property He-Man and the Masters of the Universe. According to Daily Variety, the script is being written by Justin Marks, who is also crafting a screenplay for the upcoming 2008 movie based on the ’80s animated action show Voltron and writing the Green Arrow superhero movie Supermax for Warner Bros.

Warner Bros. and Silver reportedly want to make their film like the recent hit 300, employing green-screen filming and CG visual effects to create the world of Eternia, where warrior He-Man rises to protect the people against the wicked plans of Skeletor. Mattel still has to approve the plan, but chances are that the toymaker will strike while the iron is hot. With DreamWorks’ and Michael Bay’s adaptation of the Transformers animated series and toyline coming out this summer and Voltron on the way for next year, ’80s cartoon nostalgia could end up being big business at the box office.

The adventures of Prince Adam and his muscle-bound alter-ego was first adapted for the big screen in 1987 with Dolph Lundgren in the lead role. The pic bombed at the box office, taking in just $4.8 million on opening weekend and grossing $17.3 million domestically. Fox 2000 and director John Woo recently took a shot at the property, but their plans were reportedly vetoed by Mattel.

Silver is currently adapting the classic anime series Speed Racer for the screen through his Silver Pictures, with Matrix creators Larry and Andy Wachowski set to direct. Emile Hirsch (Alpha Dog) is tapped to drive the Mach 5 in the title role for that movie, but no actor has yet been cast to play He-Man.