The Wall Street Journal reported the talks, citing sources familiar with the matter.
The Rhode Island-based Hasbro has bet heavily on Hollywood’s cachet, striking licensing deals with Disney for popular princesses and Frozen merchandise. It struck a lucrative partnership with Paramount Pictures to produce films inspired by popular toy lines.
The Transformers franchise has earned some $3.8 billion worldwide, while the G.I. Joe franchise brought in some $675 million.
Hasbro’s strategy of using entertainment assets to fuel toy sales has paid off richly — the company’s market cap is $11.4 billion, more than twice that of El Segundo, CA-based Mattel.