Toy company Hasbro spent $4 billion to acquire eOne in 2019. Three years on, the company is pivoting internally to a new strategy and is reportedly getting ready to potentially sell eOne.
In a press release, Hasbro confirmed that its board had authorized a sale process for eOne, particularly in regard to its film and TV production and distribution unit, which is not directly supporting the company’s “branded entertainment strategy”.
They say they’ve received “inbound interest from several parties” for those parts of eOne that are “not core to our go-forward strategy”, which led to the decision to explore a sale process.
The deal would likely include eOne’s library of some 6,500 episodes of TV and movies. J.P. Morgan and Centerview Partners have reportedly been retained to assist in the sale.
eOne’s branded film and scripted TV business produces and finances content ranging from movies like “Dungeons & Dragons: Honor Among Thieves” and “The Woman King” to shows like “Yellowjackets” and “The Rookie”.
Hasbro, meanwhile, has shifted its plans to become a digital gaming powerhouse.
Source: THR
