Hasbro Seeing “Strong Interest” From Potential Buyers Of eOne, CEO Says, Hinting Deal Could Be Finalized By Spring
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Hasbro CEO Chris Cocks said the toymaker is seeing “strong interest” from bidders on the company’s eOne subsidiary, a majority of which was put on the block last fall amid a host of financial and strategic challenges.
“Our focus on content is centered around Hasbro IP for the long term,” Cocks said during the company’s fourth-quarter earnings call with analysts. “Our sales process for the majority of eOne Film and TV is well under way, with strong interest in these valuable assets. We expect to have an update in the second quarter.”
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The company’s fourth-quarter report was weak, as the company had signaled it would be earlier this year, with revenue tumbling 17% due to inflation, foreign currency fluctuations and other factors. The company is also in the process of laying off 15% of its workforce.
Hasbro acquired eOne, a film and TV operation known for family juggernaut Peppa Pig and recent films like The Fabelmans and The Woman King, for $4 billion in 2019. The deal came just months before Covid ushered in a period of grueling financial challenges. The expansion of the company’s film and TV activities was a strategic priority of former CEO Brian Goldner, who died in 2021. Under Goldner, Hasbro mobilized properties like Transformers, G.I. Joe and My Little Pony with Hollywood partners.
Toronto-based eOne closed an acquisition of the Mark Gordon Company in 2019, bringing the producer of TV juggernauts like Grey’s Anatomy and Criminal Minds into the fold. The company is also behind breakout TV series like Yellowjackets and The Rookie.
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