Barbie Headed for Silver Screen

Mattel Inc. and Warner Bros. Pictures Group announced Tuesday a partnership to bring the Barbie franchise to theaters for her first ever live-action feature film, which will star Oscar-nominated actress Margot Robbie as Barbie.

Robbie will also co-produce the film under her LuckyChap Entertainment Banner, alongside Tom Ackerley and Josey McNamara from LuckyChap Entertainment, according to a statement from the studio and the toymaker.

Barbie marks the first announced deal coming out of Mattel's newly established Mattel Films, led by Academy Award-nominated producer Robbie Brenner, as well as the first collaboration between Mattel Films and Warner Bros. Pictures.

"Barbie is one of the most iconic franchises in the world and we are excited to partner with Warner Bros. Pictures and Margot Robbie to bring her to life on the big screen," said Mattel Chairman and CEO Ynon Kreiz.

"We look forward to building on this collaboration with Warner Bros. Pictures as we tell the stories of our beloved brands. Mattel Films is on a path to demonstrate the enormous potential of our brand portfolio ..."

Warner Bros. Pictures Group Chairman Toby Emmerich responded: "This project is a great start to our partnership with Ynon and Mattel Films. And, Margot is the ideal producer and actress to bring Barbie to life on screen in a fresh and relevant way for today's audiences"

Margot Robbie said that "playing with Barbie promotes confidence, curiosity and communication throughout a child's journey to self-discovery.

Over the brand's almost 60 years, Barbie has empowered kids to imagine themselves in aspirational roles from a princess to president. I'm so honored to take on this role and produce a film that I believe will have a tremendously positive impact on children and audiences worldwide."

Robbie, a 28-year-old Australian, recently appeared in a far different role -- as Queen Elizabeth 1 in "Mary, Queen of Scots."

No release time or budget was immediately announced for the Barbie project.