Viacom Looking To Mine Nickelodeon's Vault For Paramount 'Nick Toons' Project

Connected universes have worked out well for many top studios, and now Viacom, Inc. VIA is about to enter the fray, courtesy of synergy from two of its biggest assets.

As reported by Deadline on Wednesday, Paramount and Nickelodeon will team up for "Nick Toons," a feature-length movie starring the network's most well-known animated characters.

Bringing Back Nostalgia

Nickelodeon is the originator of such fare as "Doug," "Rugrats," "Ren & Stimpy" and "Rocko's Modern Life," which ran the gauntlet from being entertaining to edgy during the '90s. While it's not clear which of the many characters and series will be included, producers will have a large variety of IP from which to choose. Jared Hess and his wife Jerusha Hess, known for writing films such "Napoleon Dynamite" and "Nacho Libre" are attached to script the film. No details have been revealed yet on a director or potential release date.

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Paramount as a studio has thrived in recent years on its vast library of major franchises including "Transformers," "Mission Impossible" and "Teenage Mutant Ninja Turtles." The hope for investors is that "Nick Toons" sparks a new potential film series for the studio that would help numerous areas of Viacom boost its bottom line.

Following the reboot of the "Ninja Turtles" franchise in 2014, Viacom was able to cash in on the nostalgia factor through avenues such as home entertainment and consumer products. With over 25 years of colorful characters in play, "Nick Toons" could prove to be a cash cow.