Hasbro has put its eOne television and film business up for sale as it focuses on branded entertainment and digital shorts.
That is likely to include Leeds-based Daisybeck Studios, which eOne acquired in 2019.
In a statement last night, Hasbro said that it would “maintain the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.”
That would be “priority brands” such as Peppa Pig, Transformers and My Little Pony.
“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.
Hasbro acquired Toronto-based eOne less than 3 years ago for $3.8bn.
“The acquisition of eOne delivered fantastic talent, top tier production and deal making capability and beloved brands with strong toyetic [sic] potential including Peppa Pig. We will retain these terrific capabilities while exploring the best way to maximise the value of the eOne TV & Film Business for the benefit of our shareholders,” continued Cocks.
“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. We look forward to delighting audiences of all ages as we focus on delivering truly market-leading Hasbro-IP related entertainment.”
The group has retained J.P. Morgan and Centerview Partners to assist with the sale process.
It said that assets for the eOne Film & Television division that are a part of the potential sale are a 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.
It also includes Hasbro’s interest in Entertainment One Canada Limited’s Canadian film and TV business, and Hasbro’s unscripted division which includes hits like the Naked & Afraid franchise.
The statement said that it expected the process would take “several months.”
