It seems that toy giant Mattel is looking to streamline their process, developing a toy line and a movie at the same time. Vulture is reporting that Mattel has teamed up with producer Neal H. Moritz to develop a film around an alien civilization that has been living at the bottom of Earth's oceans.
It was said that the project is currently out to screenwriters at this time. The site reports that this unnamed project was picked out of five submissions to head up this new endeavor. It was said that this initiative could also branch out to TV shows or video games as well.
Moritz did not comment on the story and it was said that while Moritz is set up at Sony, he has a discretionary fund that could allow him to take the project to other studios.