Back in 2019, Hasbro acquired the entertainment company Entertainment One as part of a $4 billion all-cash transaction, aiming to become a major media contender by combining the company’s film and TV unit with their own. But the pandemic disrupted that plan, and now (according to The Hollywood Reporter) Hasbro is more interested in becoming a digital gaming powerhouse. So Lionsgate has been able to acquire “certain assets” of Entertainment One from Hasbro in a $500 million deal. Lionsgate forked over $375 million in cash, in addition to taking on production financing loans.
A press release lets us know that the acquisition “adds 6,500 film and television titles to Lionsgate’s library, one of the largest and most valuable in the world, diversifies and strengthens its scripted and unscripted television businesses, extends its portfolio of brands and franchises and expands its presence in Canada and the UK. eOne produces the hit ABC franchise The Rookie, the critically-acclaimed Showtime series Yellowjackets and the long-running Discovery unscripted series Naked & Afraid. The transaction also includes film development rights to Hasbro’s beloved Monopoly brand.“
Lionsgate CEO Jon Feltheimer had this to say about the deal: “The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and STARZ into pure play standalone companies. As we’ve conducted our integration planning, our analysis has reaffirmed our conviction that eOne will be a valuable and highly accretive addition to our business. We are pleased to welcome eOne’s talented group of employees to our Lionsgate family.“
Of course, there are now less Entertainment One employees than there was earlier this year. Hasbro reduced the company’s staff by 20% while preparing to sell it off back in June, and as the deal was closing this month Lionsgate laid off another 10% of the workforce.
Variety notes that Hasbro properties like Peppa Pig, Transformers, Dungeons & Dragons, Magic: The Gathering, My Little Pony, Power Rangers, Play-Doh, and Clue are excluded from the Lionsgate / eOne deal, as Hasbro “maintains the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.” Aside from Monopoly.
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