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Hasbro-Dreamworks Animation merger talks fall through
MUMBAI: After initiating talks of creating a combined family entertainment company, toymaker Hasbro and DreamWorks Animation have broken their merger negotiations.
Just a day ago, news came out that Hasbro was planning to purchase DreamWorks Animation in a merger that would see DreamWorks CEO Jeffrey Katzenberg take the reins of the new joint family entertainment venture.
According to Variety, the reason the talks ended was because of the unfavourable reception Wall Street gave the news.
The Hollywood Reporter stated the talks derailed in part by the performance of Hasbro’s stock and potentially the high price sought by Katzenberg.
This isn’t the first time that DreamWorks’ merger talks ended right after they began. In September, Japan’s SoftBank was stated to be in talks to purchase the animation studio. But talks apparently slowed down soon after.