Lionsgate Closes Deal to Acquire eOne from Hasbro
Lionsgate acquires Hasbro EOne TV and Film Operations Division.
The deal, of around 500 million dollars, will be finalized in November. Nearly four years ago, in August 2019, Hasbro announced its intent to acquire Entertainment One (eOne) in a $3.8 billion deal. Now Lionsgate has acquired from Hasbro eOne TV and film operations for approximately $500 million. The transaction will be finalized by the end of the year.
According to a 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.” The sale also includes Hasbro’s interest in the Canadian film & TV operations of eOne Canada Limited.
“This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close,” Hasbro CEO Chris Cocks said in a statement. “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.”
When Hasbro announced plans to sell its eOne assets last year, the toymaker noted that the sale would include the parts of the indie studio’s TV and film operations “not directly supporting the company’s branded entertainment strategy.”
Popular IP in the family brand division like Peppa Pig, Transformers, Dungeons & Dragons, Magic: The Gathering, My Little Pony, Power Rangers, “Play-Doh,” “Monopoly” and “Clue” are excluded from the deal.
In preparation for a sale, eOne took a series of cost-cutting measures. In 2021, eOne made difficult decisions by announcing a 10% layoff of its film and television staff. It also decided to sell the studio’s music division to The Blackstone Group for $385 million. By early 2023, Hasbro revealed that it had to implement some layoffs, affecting approximately 15% of its global headcount. Last month, eOne shut down its U.K. theatrical distribution business.
Source: Variety
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Lionsgate acquires Hasbro EOne TV and Film Operations Division.
The deal, of around 500 million dollars, will be finalized in November. Nearly four years ago, in August 2019, Hasbro announced its intent to acquire Entertainment One (eOne) in a $3.8 billion deal. Now Lionsgate has acquired from Hasbro eOne TV and film operations for approximately $500 million. The transaction will be finalized by the end of the year.
According to a 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.” The sale also includes Hasbro’s interest in the Canadian film & TV operations of eOne Canada Limited.
“This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close,” Hasbro CEO Chris Cocks said in a statement. “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.”
When Hasbro announced plans to sell its eOne assets last year, the toymaker noted that the sale would include the parts of the indie studio’s TV and film operations “not directly supporting the company’s branded entertainment strategy.”
Popular IP in the family brand division like Peppa Pig, Transformers, Dungeons & Dragons, Magic: The Gathering, My Little Pony, Power Rangers, “Play-Doh,” “Monopoly” and “Clue” are excluded from the deal.
In preparation for a sale, eOne took a series of cost-cutting measures. In 2021, eOne made difficult decisions by announcing a 10% layoff of its film and television staff. It also decided to sell the studio’s music division to The Blackstone Group for $385 million. By early 2023, Hasbro revealed that it had to implement some layoffs, affecting approximately 15% of its global headcount. Last month, eOne shut down its U.K. theatrical distribution business.
Source: Variety
Share:
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