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Though Twilight star Taylor Launter was signed on to star in two upcoming toy movies, Vulture has learned that the werewolf hunk has officially dropped Paramount's Max Steel to be Universal's Stretch Armstrong.

After generating huge buzz for his performance, and body, in The Twilight Saga: New Moon, Lautner was the toast of Hollywood. He quickly signed on to play Max Steel, based on the Mattel toy, as well as Stretch Armstrong, based on the famous Hasbro toy. Turns out, though, that Lautner and his team weren't happy with how Mattel was developing their project in contrast with Hasbro. For example, according to the Vulture article, producer Brian Grazer is working to get Stretch Armstrong made in 3D for a 2012 release. That, along with a few other things, led to this decision.

After the jump, read a little bit more on Hasbro's plans, why Launter seems to have made the right decision and all of the young heartthrob's upcoming projects.

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In theory, it looks like Lautner has picked the right horse to back. Hasbro has several movies currently in various stages of production including Candy Land, which is being written by Etan Cohen (Tropic Thunder), Battleship, which is being helmed by Peter Berg (Hancock) as well as Will Smith and James Lassiter reportedly producing Risk at Sony. Add those properties to the already successful Transformers and G.I. Joe and really, Mattel doesn't come close. All Mattel has is a tentative agreement with Tom Hanks to produce a film based on another old toy, Major Matt Mason. Plus Max Steel, while sort of well known, doesn't have half of the public awareness that Stretch Armstrong has. And we won't even get into the possibility of Lautner stretching out toward his female fans. Nuff said on that one.

Rumor has it that Monsters and Aliens director Rob Letterman might direct Stretch.

Even without Max Steel, Lautner still has plenty of projects on his plate in addition to Stretch. Summit Entertainment, who made him a star with The Twilight Saga, is developing a "'Taken' meets 'Die Hard' action film" for the actor. Plus, he's set to star in Skydance Productions film Northern Lights, which is almost a modern day Top Gun. [Ed. note: According to Deadline, Lautner dropped out of Northern Lights due to "casting issues."