Mattel, Inc. and MGM will develop a live action motion picture based on Mattel’s classic toy line View-Master. The toy-based film would be the second recent Mattel-MGM collaboration following the Feb. 15 announcement about a film based on Mattel’s American Girl doll brand.

View-Masters are the stereoscope toys that have been a childhood staple for more than 75 years. More recently, Mattel updated the viewers with View-Master VR, a virtual reality product that brings what the toymaker calls “a whole new level of realism” beyond the 3-D versions.

Mattel Films and MGM will co-produce the film. Robbie Brenner, Mattel’s Head of Film and Cassidy Lange, MGM’s Co-President of Production will oversee production.

“Since the 1940’s, View-Master has inspired wonder and joy in children of all ages, creating huge opportunities for storytelling,” said Brenner said. “MGM Pictures has tremendous expertise and a proven track record in capturing audiences’ imagination through film, and we’re proud to be partnering with them to bring another Mattel franchise to theaters. This marks another important milestone as we transform Mattel into an IP-driven, high-performing toy company.”

Said Jonathan Glickman, MGM’s President, Motion Picture Group, “View-Master was the first device that allowed families all over the world to escape their reality and take them places they never thought they could go. We couldn’t be more excited to partner with Mattel to create a family adventure integrating the old school turn and click stereotypic device with the modern world of virtual reality.”

In addition to the American Girl and View-Master projects, Mattel has announced an upcoming Hot Wheels live action motion picture and a Barbie feature-film starring and co-produced by Margot Robbie, both in partnership with Warner Bros. Pictures. Mattel has partnered with Sony Pictures for a “reimagining” of Masters of the Universe, based on Mattel’s toy line that was previously adapted for an animated television program.