Barbie’s incredible success has served as a valuable lesson for studio executives, prompting several, such as Paramount Pictures, to swiftly adopt Warner Bros. Pictures’ marketing strategies for their own films. Now Lionsgate is hedging its bet on breathing new life into dormant projects that hold the promise of achieving similar levels of success.
According to Variety, Lionsgate has recently struck a deal with Hasbro, sealing the acquisition of Entertainment One’s (eOne) TV and film divisions for $500 million. The deal involves a cash payment of $375 million, with Lionsgate taking responsibility for $125 million in production financing loans. The Canadian entertainment company was previously acquired by Hasbro for $3.8 billion in 2019.
Here’s a summary of the press release from Hasbro:
The sale will include a talented team of employees, a content library of nearly 6,500 titles, active productions for non-Hasbro owned IP like ‘The Rookie,’ ‘Yellowjackets’ and ‘Naked and Afraid’ franchises, and the eOne unscripted business, which will include rights for certain Hasbro-based shows like ‘Play-Doh Squished.’
Hasbro’s CEO, Chris Cocks, expressed his excitement about teaming up with Lionsgate to develop the Monopoly film, saying:
This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close. Lionsgate’s management team is experienced in entertainment and adept at driving value, and we’re glad to have found such a good home for our eOne film & TV business. We look forward to partnering with them, especially on a movie adaptation of Monopoly.
New Zealand filmmaker Andrew Niccol, who’s best known for the 1998 film The Truman Show and is now returning to direct a sequel for Lord of War, has signed on to pen the screenplay for the Monopoly movie. The film has been in the works since 2015, but progress has been slow despite early involvement from big names like Kevin Hart and Ridley Scott. However, the success of Barbie seems to have spurred Hasbro to embrace the idea of adapting its toys into live-action films.
Although Lionsgate owns the rights to produce the Monopoly film, the Monopoly IP still remains under the ownership of Hasbro, along with its extensive collection of popular IPs like Transformers, Dungeons & Dragons, Peppa Pig, and Power Rangers.
The project is still in its early stages, as no director or cast members have been officially linked to it.
