Toy giant Hasbro says it has embarked on a sale process for part of eOne, three years after acquiring the TV and film producer and distributor for $3.8bn.
Hasbro says it plans to sell the part of its eOne TV and film business that does not directly support its branded entertainment strategy.
The sale includes eOne’s 6,500+ content library, the non-Hasbro branded film and scripted TV business which produces and finances content like The Woman King, Yellowjackets and The Rookie franchise, Hasbro’s interest in Entertainment One Canada Limited’s Canadian film and TV business, and Hasbro’s unscripted division which includes hits like the Naked & Afraid franchise.
However, it does not include brands such as Peppa Pig and Transformers.
Hasbro said it will maintain the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.
Priority brands for investment include Peppa Pig, Transformers, Dungeons & Dragons, Magic: The Gathering, My Little Pony, Power Rangers, Play-Doh and Hasbro’s portfolio of board games including Monopoly and Clue.
Hasbro also aims to develop new IP such as the recently announced Kiya And The Kimoja Heroes that is scheduled to premiere on Disney Junior and Disney+ in 2023.
“Following our recent Investor Day where we introduced our new branded entertainment strategy, Blueprint 2.0, 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. This interest informed our decision to explore a sale process,” said Chris Cocks, Hasbro’s chief executive officer.
“The acquisition of eOne delivered fantastic talent, top tier production and deal making capability and beloved brands with strong toyetic potential including Peppa Pig. We will retain these terrific capabilities while exploring the best way to maximize the value of the eOne TV & Film Business for the benefit of our shareholders.”
Cocks continued: “As we execute Blueprint 2.0 with a focus on strategic investment in key franchise brands like D&D, Peppa Pig and Transformers, we plan to expand our entertainment offerings across scripted TV, digital shorts, and blockbuster films. We look forward to delighting audiences of all ages as we focus on delivering truly market-leading Hasbro-IP related entertainment.”
The company has retained J.P. Morgan and Centerview Partners to assist with the sale process.
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