Talks for a potential acquisition of media firm Lions Gate Entertainment Corp. ended when the suitor, toymaker Hasbro, pulled out, Reuters reports, citing sources who are familiar with the situation.
“The deal would have given Hasbro a direct pipeline into Hollywood with more movies and TV shows tied to its toy brands,” Reuters notes. “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 breakdown in the talks was triggered by disagreements over price, the sources noted. It was unclear whether negotiations might restart at a later time.