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Aug. 2, 2021, 3:47 p.m. EDT

The next Barbie movie will be directed by Oscar nominee Greta Gerwig

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By Tonya Garcia

Barbie’s next movie will have an Oscar nominee behind the camera: Greta Gerwig will direct and write the movie, which is targeted for release in 2023.

Gerwig has been nominated for her work on the films “Lady Bird” and the 2019 adaption of “Little Women.”

The latest Barbie film will begin production next year. Barbie is part of the Mattel Inc. /zigman2/quotes/209819189/composite MAT -0.97% lineup.

Mattel has also partnered with MGM and “Girls” creator and star Lena Dunham on a Polly Pocket movie that will star “Emily in Paris” actor Lily Collins.

Amazon.com Inc. AMZN announced a deal to purchase MGM in May. That deal is now under Federal Trade Commission review .

Gerwig joins another Oscar nominee, Margot Robbie, who has been tied to the project for some time. And adds to the list of notable names associated with Mattel entertainment projects, including Daniel Kaluuya , star of “Get Out.”

There have been previous Barbie films, many of them animated .

See: Peppa Pig, a pandemic favorite, has American children acting British

Both Mattel and Hasbro Inc. /zigman2/quotes/201249319/composite HAS -1.23% turned their focus to the entertainment sides of their respective businesses when announcing their second-quarter earnings this week.

Hasbro has a My Little Pony movie in the works, along with shows like Peppa Pig. The company also has partnerships with recent releases “Snake Eyes: G.I. Joe Origins” and “Black Widow.”

And: Scarlett Johansson sues Disney over ‘Black Widow’ streaming release

On the core toy side of the Mattel business, there was a 43% increase in the American Girl brand, which is undergoing a turnaround. Barbie, Hot Wheels and Fisher-Price were among the brands reporting double-digit growth.

“American Girl is becoming a playbook success story and now a growth driver for Mattel,” said Ynon Kreiz, Mattel’s chief executive, on the earnings call, according to FactSet.

And: Mattel swings to surprise quarterly profit as sales rise 40%

MKM Partners says Mattel is “hitting on all cylinders,” but maintained its neutral stock rating. MKM’s price target on Mattel is $25.

“Mattel’s business is in the best position in years, but we believe a lot of this good news is already priced into the shares,” analysts said.

Hasbro blew past earnings expectations on the strength of Wizards of the Coast and digital gaming. However, the Dungeons & Dragons launch of Dark Alliance was not as well received.

US : U.S.: Nasdaq
$ 20.38
-0.20 -0.97%
Volume: 4.16M
Sept. 17, 2021 4:00p
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US : U.S.: Nasdaq
$ 97.53
-1.21 -1.23%
Volume: 1.38M
Sept. 17, 2021 4:00p
P/E Ratio
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$13.43 billion
Rev. per Employee
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