Barbie is finally getting her own big-screen movie.
Toy company Mattel said Tuesday it is partnering with Warner Bros.to bring the iconic doll to theaters with Academy Award-nominated actress Margot Robbie to star. This is the first movie deal announced by Mattel Films, which launched in September.
Shares of the company surged as much as 5 percent on the news Tuesday, before giving up some of its gains.
Robbie will co-produce the Barbie film, alongside Rom Ackerley and Josey McNamara, under the LuckyChap Entertainment banner.
"Margot is the ideal producer and actress to bring Barbie to life on screen in a fresh and relevant way for today's audiences," Toby Emmerich, chairman of Warner Bros. Pictures Group, said in a statement.
Robbie has gained fame for her portrayal of Harley Quinn in "Suicide Squad," Tonya Harding in "I, Tonya" and Jane Clayton in "The Legend of Tarzan."
Mattel's rival Hasbro has excelled in translating its properties to successful television shows, movies and online videos. Theatrical releases of its six "Transformers" films alone have grossed more than $4.66 billion globally, according to Box Office Mojo.
Mattel has previously ventured into web series, launching online shorts with brands such as Barbie, Monster High and Polly Pocket. However, while Barbie has been featured in a number of animated home-release films, she has yet to grace the big screen in a Mattel-produced film. (She did appear in Pixar's "Toy Story 2" and "Toy Story 3.")
The upcoming Barbie film will be live action, Mattel said.
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