August 2, 2023
Hasbro has reached an agreement to sell its eOne film and TV business to Lionsgate for approximately $500 million, consisting of $375 million in cash and the assumption by Lionsgate of production financing loans. The transaction has been approved by both companies’ boards of directors and is expected to close by the end of this year.
The sale will include a 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 includes rights for certain Hasbro-based shows, including “Play-Doh Squished.” The eOne film and TV business being sold also includes Hasbro’s interest in the Canadian film and TV operations of Entertainment One Canada Limited, and the transaction has also been approved by Entertainment One Canada Limited’s board of directors.
The announcement is the culmination of a rigorous sale process in connection to the Blueprint 2.0 strategy, which at its core is about significantly increasing investment in Hasbro’s priority brands. In addition to Hasbro’s animation efforts that include “Peppa Pig,” “Transformers: EarthSpark” and “My Little Pony: Tell Your Tale,” the company will retain a focused team of creative development and business affairs experts to shepherd the 30+ Hasbro-based projects in development.
“This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close,” says Chris Cocks, chief executive officer, Hasbro. “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 and TV business. We look forward to partnering with them, especially on a movie adaptation of Monopoly. Entertainment remains a priority for Hasbro. Hasbro will continue to develop and produce entertainment based on the rich vault of Hasbro-owned brands. We will also bring to life new original ideas designed to fuel all areas of Hasbro’s blueprint including toys, publishing, gaming, licensed consumer products and location-based entertainment. As part of the sale, we expect to move to an asset-lite model for future live-action entertainment, relying on licensing and partnerships with select co-productions.”
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