Effects guru Ray Harryhausen has joined with Mindfire Entertainment on a series of new movies, telefilms, video games and merchandising under the "Ray Harryhausen Presents" banner reports Reuters.

Based on unproduced material by Harryhausen, the hope is to release one movie in the $15 million range and three telefilms in the $4 million range every year.

Harryhausen will be involved in the development of the projects and will oversee all visual effects which will be done in CGI but in the spirit of the stop-motion special effects he pioneered in films like "Jason and the Argonauts" and "Clash of the Titans".