Business
Hasbro Completes Sale of Entertainment One Film and Television Business to Lionsgate
Hasbro to Retain Entertainment for Hasbro Brands PAWTUCKET, R.I.--(BUSINESS WIRE)-- Hasbro, Inc. (NASDAQ: HAS) announced today that it has completed the sale
About this update from Hasbro, Inc.
[{"type":"text","content":"\nHasbro to Retain Entertainment for Hasbro Brands\n\n\n PAWTUCKET, R.I.--(BUSINESS WIRE)--\nHasbro, Inc. (NASDAQ: HAS) announced today that it has completed the sale of its Entertainment One film and TV business to Lionsgate for a purchase price of $375 million in cash, subject to certain purchase price adjustments, plus the assumption by Lionsgate of production financing loans. Today’s announcement underscores Hasbro’s Blueprint 2.0 strategy; Hasbro will continue to develop and produce entertainment based on its rich vault of Hasbro brands.\n\n\nThe sale includes unscripted television production companies Renegade and Daisybeck, as well as Hasbro’s interest in the Canadian film & TV operations of Entertainment One Canada Limited.\n\n\nIn connection with the closing, Hasbro expects to retire approximately $400 million of floating rate debt.\n\n\nJ.P. Morgan and Centerview Partners served as lead financial advisors to Hasbro in the transaction. Cravath, Swaine & Moore LLP, Mayer Brown International LLP and Stikeman Elliott LLP acted as legal counsel to Hasbro and Osler, Hoskin & Harcourt LLP acted as legal counsel to Entertainment One Canada Limited.\n\n\nAbout Hasbro\n\n\nHasbro is a leading toy and game company whose mission is to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play. Hasbro delivers engaging brand experiences for global audiences through toys, consumer products, gaming and entertainment, with a portfolio of iconic brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, Hasbro Gaming, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands.\n\n\nHasbro is guided by our Purpose to create joy and community for all people around the world, one game, one toy, one story at a time. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, one of the World’s Most Ethical Companies by Ethisphere Institute and one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50. For more information, visit https://corporate.hasbro.com.\n\n\nHasbro Forward-Looking Statements\n\n\nCertain statements in this press release contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. ...