Hasbro In Talks To Sell Entertainment One Assets: Report

  • Hasbro Inc HAS is reportedly in talks with Entertainment One (EOne) founder Darren Throop to sell most of the film and TV studio’s assets.
  • Throop, who has previously served as the CEO of EOne, is said to be among the leading bidders, reported Bloomberg.
  • Throop is said to have the backing of the private equity firm CVC Capital Partners.
  • Hasbro acquired EOne in 2019 for $4 billion and has been selling some of its units that it considers unimportant.
  • The toymaker sold EOne’s music business to Blackstone Inc. BX in 2021.
  • The units under consideration for sale now include EOne’s film and TV production business and a library of about 6,500 titles. 
  • The report further mentioned that the sale proceeds would be invested in gaming brands, new films, and debt repayment.
  • Price Action: HAS shares closed lower by 2.30% at $51.29 on Thursday.
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