Hasbro saw dollar signs after Transformers, and they’ve gotten greedy. It’s one thing to take toy robots and convert them into movie stars, but projects like Monopoly and Ouija Board sounded too ridiculous (and non-cinematic) to make the transition. First, Universal backed out of a new Clue, then the Ouija Board movie, then Monopoly and now they’re getting out of another project born from their toymaker partnership. According to Deadline Deltino, Stretch Armstrong is dead at Universal. The project, like the flour-filled rubber toy, would have starred Taylor Lautner with Rob Letterman set to direct. Speculating on the reasons is futile and a waste of the time we could all spend celebrating. Universal may be regretting that major Hasbro deal now, but they’re wising up to the shifting needs of an audience that wants story and not plastic. The project isn’t completely done, though. It’s found a home over at Relativity Media – which is sort of sad considering the risk-taking that studio has done in the past few years. This, of course, is a risk of a different kind. It’s a formula that only appears to work these days. It’s a project that has all the elements for success, but doesn’t pass the smell test in the first place. The new press release from Relativity also doesn’t include anything about Lautner or Letterman. Looks like they’re officially done with Stretch as well. If only everyone were. Hopefully this doesn’t hurt the chances of a Happy Fun Ball movie. That [Due to Content Scraping and Theft, we have been forced to try abbreviated feeds. We apologize for any inconvenience this may cause and woud very much appreciate you clicking through to view the full article on FilmSchoolRejects.com]

What is Movie News After Dark? It’s a nightly movie news collection that doesn’t usually involve so much nudity, or Dance Dance Revolution references, but Mondays are always a little special. We begin this evening with a new shot from The Hobbit, a film you may have heard about. It’s also a film that will undoubtedly be filled with little people, tall wizards, shires, middling earths and rings inscribed with “From Sauron, with love.” This one features Martin Freeman as Bilbo Baggins, standing amongst friends.

This week, on a very special episode of Reject Radio, Derrick Comedy member, author, and screenwriter D.C. Pierson answers the tough questions. Why would Jennifer Love Hewitt insure her breasts through Allstate?

Twilight star and all-around piece of meat Taylor Lautner has signed on to star in Universal’s upcoming toy-based film Stretch Armstrong, says Heat Vision. This 3D film will be made based on the line of Hasbro toys, and will likely make good money. Why? Because unlike his Twilight co-star Robert Pattinson, Lautner is seen as a bankable star.

Universal launches its opening toy-made film salvo with Stretch Armstrong arriving in early 2011. Should the public respond by throwing their money back?