Hasbro Calls Off Talks to Buy Lionsgate – Variety
The toymaker had been eyeing the studio as a way to gain entry to Hollywood. It’s not the first time that Hasbro has contemplated buying a movie and television company. In 2014, the company was in talks to merge with DreamWorks Animation before discussions ended over price disagreements.
Lionsgate is best known for its work on “The Hunger Games” franchise. The studio also has produced the Oscar-winning “La La Land” and the “Divergent” series. It television shows include “Mad Men,” “Orange is the New Black,” and “Nashville.” In 2016, the company acquired Starz for $4.4 billion in cash and stock, in a deal that augmented its cable holdings. Because of its relatively small size and the lack of studios on the auction block, Lionsgate is frequently the subject of acquisition rumors.
Hasbro’s lines of toys and games include Mr. Potato Head, Monopoly, and My Little Pony. Its products have inspired films with varying degrees of success. For example, Transformers is a major film franchise, but Battleship was a notorious flop.
Reuters first reported that talks between Lionsgate and Hasbro had ended. A spokesperson for Lionsgate declined to comment and a spokesperson for Hasbro did not respond to a request for comment.