Only one film is now planned according to sources close to the talks.
The Super Mario Brothers series has shifted over 330 million units total for Ninitendo in the years since it first landed on consoles in the 1980s, so it's no surprise that a new film is in the offing.
The outlet also reveals that this potential deal would allow the studio to make multiple films in the franchise, however, only one is now planned. With that in mind, here's the general detail from the WSJ report. The final agreement is yet to be signed, with Nintendo reportedly eager to ensure it maintains a degree of control - Shigeru Miyamoto would likely be a producer. Illumination is the company behind Despicable Me-which foisted Minions on the world-while Universal Pictures remains one of the largest film studios in the world.
Of course, Nintendo is nearly laughably protective of their intellectual properties, especially after the disastrous 1993 live action Super Mario Bros. movie.
The film was a disaster both critically and commercially, and is often cited in discussions about the sad history of Hollywood's various video game adaptations. You may recall that Nintendo used to be much more active in terms of allowing outside companies to produce films and series based on their properties.