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Hasbro is officially exploring a sale of its eOne television and film business, according to a press release.
Specifically, the toy giant said it was looking to sell that part of eOne “not directly supporting the Company’s Branded Entertainment strategy.”
That includes eOne’s content library, its non-Hasbro scripted TV and film production business, the company’s interest in the eOne Canadian arm, and an unscripted TV studio that includes reality shows such as “Naked & Afraid.”
Hasbro plans to maintain “significant development, production and financing capabilities” to help bring projects around core brands to the screen.
Hasbro acquired the eOne entertainment studio in 2019 for $4 billion under then-chief Brian Goldner, who died unexpectedly in 2021. Along with Hasbro brands, the studio also has made unrelated content, such as “Yellowjackets” and “Designated Survivor.”
Bloomberg’s Lucas Shaw reported earlier this year that Hasbro was considering restructuring or selling eOne.
In a press release last week, Hasbro CEO Chris Cocks said that, after the company’s investor day event, “we received inbound interest from several parties for the part of the eOne television and film business that while valuable is not core to our go-forward strategy.”
That interest is part of why the company is putting it up for sale officially. Hasbro cautioned that the sale process could take “several months” and might not result in a deal.
via https://www.aiupnow.com
Ben Unglesbee, Khareem Sudlow
