Hasbro Selling Entertainment One’s Music Arm For $385 Million In Cash

Discussion in 'Transformers News and Rumors' started by pie125, Apr 26, 2021.

  1. pie125

    pie125 Well-Known Member

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    Hasbro Selling Entertainment One’s Music Arm For $385 Million In Cash – Deadline
    Hasbro Selling Entertainment One’s Music Arm For $385 Million In Cash
    By Jill Goldsmith
    April 26, 2021 4:09pm
    hasbro-eone-logos.jpg
    Toymaker-turned-Hollywood producer Hasbro said Monday that it’s selling the music business of Entertainment One to investment firm Blackstone for $385 million in cash.

    Specifically, it is selling eOne Music to entities controlled by Blackstone, which also owns SESAC, a leading music rights organization. Subsequent to the closing, eOne Music will operate as a separate business unit headed by current president Chris Taylor, a music industry veteran.

    Hasbro acquire the music unit along with its 2019 acquisition of Canada’s Entertainment One.

    “This transaction will ensure that eOne Music is well positioned to unlock great opportunities for its many talented artists and partners, as Hasbro continues to focus on the core strategic elements of … play and entertainment,” said Brian Goldner, CEO of the Pawtucket, RI-based Hasbro.

    Hasbro said it intends to use its net proceeds from the sale to pay down down debt and other general corporate purposes. The deal is expected to close in the second or third quarter of 2021.

    Hasbro brands include Magic: The Gathering, Nerf, My Little Pony, Transformers, Play-Doh, Monopoly, Dungeons & Dragons, Power Rangers, Peppa Pig and PJ Masks.
     
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  2. Hicks_Royel

    Hicks_Royel > Cat Flu

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    Well, that romance didn't last long.
     
  3. Fallout

    Fallout Well-Known Member

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    @Hasbro will you take $85 shipped and waive paypal fees? thanks
     
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  4. Hoffman

    Hoffman Well-Known Member

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    I would suspect it was part of the plan all along. They retain all the media assets acquired under eOne, and recoup some of the cost by selling off a branch they are not in a position to utilize.
     
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  5. llamatron

    llamatron OFFICIAL MMC REP TFW2005 Supporter

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    They wanted the pig but they had to buy the whole farm.
     
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  6. Wayne EHP

    Wayne EHP Well-Known Member

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    The company i work for is owned by Blackstone. I've been furloughed since march 17th of 2020. Glad to see they have the cash to spend on some music. Hotels, event production and now music.....
     
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  7. Jm83

    Jm83 Well-Known Member

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    *digs in the couch* ya'll take money orders?
     
  8. artiepants

    artiepants Transformers '84!!!

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    Seems like it’s kinda the other way around... they wanted the farm but weren’t interested in raising pigs.
     
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  9. SG Roadbuster

    SG Roadbuster SG Wrecker

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    *checks eOne's music catalogue*
    ......And nothing of value was lost.
     
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  10. Novaburnhilde

    Novaburnhilde シン・ブリュンヒルド

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    'kay.
     
  11. geekatron prime

    geekatron prime Master of the Kerfuffle

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    Glad my stymulus is here, was wondering what to use it for. Always wanted to own a music company. :) 
     
  12. ScientistMan

    ScientistMan Well-Known Member

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    I’m too lazy to look it up, but weren’t they supposed to handle the soundtracks for the D & D and MLP movies?