Warner Bros. has backed away from the big screen redux of HE-MAN: MASTERS OF THE UNIVERSE, reports VARIETY. Joel Silver has been developing the project since 2007. WB and Mattel couldn't come to terms on the direction for the project so they agreed to let the option expire. Director John Stevenson (KUNG FU PANDA) will most likely come with the project wherever it lands, but Silver, who has a deal with WB, will probably be leaving the project.