Warner drops He-Man, Mattel seeks new home for the Masters of the Universe. Warner Bros. US and Mattel will not be teaming up to make the proposed He-Man movie, Masters of the Universe. According to reports, Mattel and Warner Bros. fell out over the direction of the project and decided “to let the option lapse this month.” In the story, 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. Mattel is now looking to set the property up at another studio. The plan is for director John Stevenson (Kung Fu Panda) to remain attached to the project.