I can be wrong and maybe someone else can correct me (I feel like
@Parkscope Joe can); but Transformers...isn't a IP that goes through that of Paramount.
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I had been under presumption, that for all intents and purposes the theme park licensing for Transformers goes towards that of Hasbro's--and not that of Paramount directly. I can be absolutely wrong on that--but I had sworn Hasbro licensing is a weird sort.