Hasbro Makes $4 Billion Deal to Acquire Entertainment One08/23/2019
Peppa Pig and other Entertainment One brands are heading to a new home.
Hasbro, Inc. and eOne announced an acquisition on Thursday. Hasbro will pay $4 billion in cash to acquire eOne, bringing brands like Peppa Pig, PJ Masks, and more under its umbrella. The company’s chairman and CEO, Brian Goldner, celebrated it as a move that “adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling.”
The play and entertainment company is looking to bring its brands to fans in new ways, per Goldner. He noted in an investor call Thursday (via Variety) that “with eOne’s content creation capabilities … we can reach audience on all screens.” As part of that, eOne’s employees will be joining Hasbro.
eOne CEO Darren Throop talked up the “strong cultural fit” between the two companies in the announcement. He added that Hasbro’s portfolio “will further fuel the tremendous success” of eOne.
The acquisition isn’t a done deal yet. One of the key steps left is for eOne shareholders to vote in favor of the acquisition. However, the boards of directors of Hasbro and eOne have each signaled their approval, and the transaction is expected to be finalized in late 2019.
Source: Read Full Article