Talks Of Hasbro Acquisition of Lionsgate Reportedly Over
Wednesday, August 2nd, 2017 1:56PM CDTCategories: Movie Related News, Company News
Posted by: Va'al Views: 12,569
(Reuters) - Hasbro Inc, the maker of games ranging from Monopoly to foam Nerf balls, has ended talks to acquire U.S. movie studio and entertainment company Lions Gate Entertainment Corp, people familiar with the matter said on Wednesday.
The deal would have given Hasbro a direct pipeline into Hollywood with more movies and TV shows tied to its toy brands.
The Pawtucket, Rhode Island-based company has worked with Viacom Inc's Paramount Pictures on the "Transformers" and "G.I. Joe" film franchises, and with the Lionsgate movie studio on a "My Little Pony" film, due in theaters in October.
The negotiations with Lions Gate ended last week because of price disagreements, the sources said, asking not to be identified because the talks were confidential. It is not clear whether negotiations could restart in the future.
Lions Gate declined to comment. Hasbro did not respond to a request for comment.
Hasbro shares fell 1.9 percent to $103.90, giving the company a market value of about $12.9 billion. Shares of Lions Gate were trading almost flat at $29.25, representing an overall market value of close to $5.9 billion.
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