Last October we reported the news that Nickelodeon, a division of Viacom, had paid a reported $60 million for the rights to the entire Teenage Mutant Ninja Turtles franchise. This meant that we’d be getting not only a new live-action TMNT movie (coming in 2012), but also a new CG-animation TV series.

With the movie being a supposed reboot of the film franchise (first started in 1990), it seems that co-producers Paramount and Nickelodeon have brought on a company that’s made its name by producing reboots of known properties: Platinum Dunes.

In case you’re wondering, that’s the company co-owned by one Michael Bay. I know, I know – I can hear you groaning from miles away! 😛

Deadline is reporting the news that Paramount and Nickelodeon have brought on Bay and his Platinum Dunes partners Brad Fuller and Andrew Form to co-produce the live-action TMNT reboot. All producers will begin meeting with potential writers in the coming weeks and I assume the same thing will happen to select a director once they’ve chosen a writer.

It’s not much of a surprise that Bay and his company are producing this new version of the Turtles. Right around the time Viacom purchased the rights to TMNT, Paramount struck a first-look deal with Bay and Fuller, who are making genre pictures through Platinum but are also looking to expand the venture. I’d say with the TMNT reboot they’ve definitely done that.

Looking back on Platinum Dunes’ history of rebooting known series (The Texas Chainsaw Massacre, Friday the 13th and most recently A Nightmare on Elm Street), I can’t necessarily say it’s good news for those hoping for a Turtles reboot that’s, you know… good.

All Platinum Dunes has really done since its creation in 2001 is take old (usually horror) properties, remodel them and package them in shiny 21st century fiberglass, not once coming close to matching the enjoyment of the originals. The only thing that stops this from being completely bad news is the fact that the original live-action TMNT movies, although fun, certainly weren’t classics of any sort. I can only hope this reboot gets treated right and we get the badass Ninja Turtles most of us have been yearning for.

What do you think of this news – good or bad for Turtles fans?

As far as we know the new Teenage Mutant Ninja Turtles movie will hit theaters sometime in 2012.

Source: Deadline and infernoman64 (for TMNT header image)