Toy company, Hasbro has purchased Entertainment One in a soon-to-be closed deal worth $4 billion.
The eOne purchase will make Hasbro the new owners of ‘Peppa Pig and PJ Masks’ kid series produced under eOne. The deal also obliges Hasbro to make a cash deposit of $6.6 million to shareholders of eOne, per each member share in the company. The Hollywood Reporter pens that, Hasbro will use debt financing and a $1 billion to 41.25 billion equity offering to fund the takeover of eOne, which trades on the London Stock Exchange.
Hasbro chairman, Brian Goldner disclosed about the new ownership, “The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP.”
eOne’s CEO Darren Throop will maintain his position with the studio, coordinating everything production. “Along with our leadership team, I look forward to working with Hasbro on our joint growth and success for many years to come.”
Over the years, Hasbro has been the custodians of toy-to-film properties like ‘G.I.Joe’ and ‘Transformers’. The company is expected to finalize the eOne takeover by close of 2019.
