G.I. Joe: Retaliation director Jon Chu is currently in the process of developing a big screen adaptation of Masters of the Universe. I just hope to hell the story is a lot better than the one they came up with for G.I. Joe. The script for the film comes from Alex Litvak (Predators, The Three Musketeers) and Mike Finch (Predators, American Assassin, Hitman reboot). Chu loved the script and is excited about the project. In a recent interview with IGN he explains that they're currently in the experimental phase saying,
We're still early, but we're deep in experimenting. This is the most fun phase for me because we get to try everything we've ever wanted to try in [Masters of the Universe] and then we get to throw out all the things that don't work, which is most of it. [This allows us to know] what our tone is, where we're going to head with it and it's a very important phase because it shows [us] the direction we're going to go in the future. So we're very early, we don't know a lot yet other than that we're playing around and having a lot of fun.
It's going to be really interesting to see how this movie turns out. However after watching G.I. Joe: Retaliation, I'm sure it will end up having a lot of fun action, but a weak story and script. It's kind of sad that, at this point, the best we can expect to see from this movie is going to be mediocre.