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.