TMNT handed lifeline by Mattel Toys following Playmates’ failure to renew licence
Last updated: 13 February 2026
Following the end of a nostalgic and well-received partnership with Playmates, the company chose not to renew their licence for the Teenage Mutant Ninja Turtles franchise. The fandom was in tatters, fearing for the future of the four brothers. But alas, there’s some good news.
Mattel Buys Master Licence
Mattel, responsible for Barbie and He-Man, has bought the master licence of the TMNT line. Having successfully negotiated with Paramount (Skydance), the company is set to begin producing action figures and more.
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As part of the agreement, Mattel will design and produce action figures, playsets, vehicles, games, collectibles, role‑play items, and more.
A New Era
Roberto Stanichi, EVP and Chief Global Brand Officer for Mattel, hailed their new partnership, and exclaimed the importance of the franchise:
“Teenage Mutant Ninja Turtles is one of the most successful entertainment franchises in history, and partnering with Paramount on this iconic property marks a significant moment for Mattel and the brand. The enduring power of the Turtles lies in their ability to evolve with each generation, and we are excited to bring these characters to life in new ways.”
Josh Silverman, President, Global Products & Experiences at Paramount was equally satisfied with the deal, and said they hoped to expand the brand across generations:
“Extending the world of Teenage Mutant Ninja Turtles through so many different touchpoints is something we deeply value as we continue expanding the ways people can interact with and celebrate the world of these beloved brothers. We are pleased to embark on this next chapter with Mattel…”
Launch Date
The company will begin its rollout of products in 2027, with items scheduled to align with Teenage Mutant Ninja Turtles: Mutant Mayhem 2 (2027) and an untitled live‑action/CG hybrid TMNT film set for 2028.
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