Business
Hasbro Initiates Sale Process for eOne TV and Film Business
Company Advances Entertainment Strategy Focused on Core Hasbro Brands including PEPPA PIG, TRANSFORMERS and DUNGEONS & DRAGONS PAWTUCKET, R.I.--(BUSINESS
About this update from Hasbro, Inc.
[{"type":"text","content":"\nCompany Advances Entertainment Strategy Focused on Core Hasbro Brands including PEPPA PIG, TRANSFORMERS and DUNGEONS & DRAGONS\n\n PAWTUCKET, R.I.--(BUSINESS WIRE)--\nHasbro, Inc. (NASDAQ: HAS), a global branded entertainment leader, today announced that, in connection with the Company’s strategic review process led by its new CEO, Chris Cocks, the Board of Directors has authorized a sale process for the part of its eOne TV and film business not directly supporting the Company’s Branded Entertainment strategy. Hasbro will maintain the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.\n\nIn support of its recently announced Blueprint 2.0 strategy, Hasbro plans to significantly increase strategic investment in key brands, with a focus on gaming, direct to consumer, Franchise Brands and licensing. Priority brands for investment include PEPPA PIG, TRANSFORMERS, DUNGEONS & DRAGONS, MAGIC: THE GATHERING, MY LITTLE PONY, POWER RANGERS, PLAY-DOH and Hasbro’s iconic portfolio of board games including MONOPOLY and CLUE. The Company plans to maintain significant development, production and financing capabilities to support its core brands across film, TV, animation and digital shorts. These projects will span Hasbro’s beloved brands and will also include the development of new IP such as the recently announced Kiya and the Kimoja Heroes that is scheduled to premiere on Disney Junior and Disney+ in 2023.\n\n“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,” said Chris Cocks, Hasbro’s Chief Executive Officer. “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.”\n\nMr. Cocks continued, “As we execute Blueprint 2.0 with a focus on strategic investment in key franchise brands like D&D, Peppa Pig and Tra...