Donald Trump says that he won’t participate in the first Republican debate, but seven of his rivals will be on the debate stage.
03.08.2023 - 10:47 / deadline.com
Hasbro has confirmed the sale of Entertainment One (eOne) to Lionsgate for $500M, which should close by the end of this year.
Speculation had been intensifying that confirmation was incoming, with Deadline revealing several weeks ago that Lionsgate was in pole position to buy the majority of the on-the-block Woman King and Yellowjackets studio. The news came in the hours preceding Hasbro’s Q2 earnings call.
Hasbro bought eOne for $4B in 2019 but will sell for just $500M, consisting of $375M in cash, subject to certain purchase price adjustments, and the assumption by Lionsgate of production financing loans. Hasbro said the transaction has been approved by both companies’ Boards of Directors and remains subject to closing conditions and regulatory approvals. It will use the proceeds to retire a minimum of $400M of floating rate debt by the end of the year.
“This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close,” said Hasbro CEO Chris Cocks. “Lionsgate’s management team is experienced in entertainment and adept at driving value, and we’re glad to have found such a good home for our eOne film & TV business.”
He said Hasbro “looks forward to partnering” with Lionsgate in the future, especially on the upcoming movie adaptation of Monopoly.
Lionsgate has bought eOne’s scripted and unscripted TV production, all film production and related global distribution, a 6,500-plus title content library and Hasbro’s interest in eOne’s Canadian film and TV business. Hasbro holds on to the Family Brands division, which houses staples such as Peppa Pig and PJ Masks.
In preparation for the potential sale, eOne has undergone multiple rounds of layoffs over the last few months that impacted
Donald Trump says that he won’t participate in the first Republican debate, but seven of his rivals will be on the debate stage.
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