Toy giant Hasbro has embarked on a sale process for key parts of its eOne TV and film business, three years after acquiring the company for $4 billion.
Hasbro plans to sell parts of the eOne TV and film business that do not directly support the company’s branded entertainment strategy.
The eOne assets that Hasbro is selling include its 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 eOne’s Canadian film and TV business, and Hasbro’s unscripted division which includes hits like the Naked & Afraid franchise.
However, Hasbro will hold on to priority brands for investment including 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 said it plans to maintain significant development, production and financing capabilities to support these core brands across film, TV, animation and digital shorts. It also plans to develop new IP such as the recently announced Kiya and the Kimoja Heroes which is scheduled to premiere on Disney Junior and Disney+ in 2023.
Hasbro CEO Chris Cocks said: “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.”
“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.”
Hasbro has retained J.P. Morgan and Centerview Partners to assist with the sale process. Hasbro said it anticipates that the process will take several months.