Paramount has inked a film deal with video game giant Activision to bring the popular franchise “Call of Duty” to the big screen, in the latest example of the media company’s continued spending spree under new Chief Executive David Ellison .

With this deal, Paramount will develop, produce and distribute a live-action film based on the first-person shooter franchise, according to a statement Tuesday from Paramount. Since its initial debut in 2003, “Call of Duty” has sold more than 500 million copies worldwide.

Financial terms of the deal were not disclosed.

Calling himself a lifelong fan of “Call of Duty,” Ellison said the deal was “truly a dream come true.”

“Being entrusted by Activision and players worldwide to bring this extraordinary storytelling universe to the big screen is both

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