Global Toy giant Hasbro is reportedly set to put Entertainment One up for a potential sale as the company explores interests within the film and television production and distribution unity, according to the Hollywood Reporter.
“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,” Chris Cocks, Hasbro’s CEO, said in an official statement on Thursday.
Hasbro is hopeful that by shedding eOne, which they acquired in 2019 as part of a $4 billion all-cash transaction, they can focus on branded assets like Peppa Pig, Transformers and Dungeons & Dragons as it looks to be become a digital games giant.
“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,” Cocks added in his statement.
Hasbro has retained J.P. Morgan and Centerview Partners to assist with the sale process.
