Lionsgate's Michael Burns Joins Hasbro Board of Directors
The toy giant continues its march into movie franchises like 'Transformers' and 'G.I. Joe'
Toy giant Hasbro on Thursday continued its march into film and TV by naming Lionsgate vice chairman Michael Burns to its board of directors.
"Michael's financial acumen and extensive operational experience in developing and distributing award-winning original content make him an excellent addition to Hasbro's board of directors," Hasbro chairman Alfred J. Verrecchia said in a statement Tuesday. The election follows Hasbro calling off merger talks with DreamWorks Animation.
Major Hasbro toy and game brands like Transformers and G.I. Joe are already movie franchises in partnership with big studios. The toymaker has other movie projects in the works to spur product sales, including a Fox movie based on the card game Magic: The Gathering and a Sony movie based on the Candy Land board game.
Burns joined Lionsgate in 2000 and alongside CEO Jon Feltheimer has created a mini-studio to rival the major Hollywood studios with YA properties, such as the Hunger Games and Divergent movie franchises, and a successful shift into TV production.