The bolded bit isn't really true in anything but a simplistic way though.
It licenced the RPG, but it didn't follow it terribly closely, taking a bunch of weird liberties, but the main thing it got wrong was the tone and audience. It was all about a bunch of butch, dull cop/mobster men (some of whom happened to be vampires) in their 30s and 40s, rather than hot/weird/edgy vampire guys, and had a bizarrely Melrose Place-like vibe with the acting, directing, sets, and so on which vapourized any cool vibes the bits of the setting it did use would have - unsurprising given it was a Spelling production. It didn't resemble the tone of any of the VtM products or eras, and didn't appeal to either that audience, nor the Anne Rice audience, nor even the Forever Knight/Highlander/Soon-to-be-Buffy audiences.
It's a classic example of purchasing the rights to an IP and then totally failing to do anything which really benefited from you doing so. Sometimes which you might recall was bizarrely common from the mid '90s through to about the late '00s, at which point people started slowly working more towards actually leveraging the IPs they licenced.