Hasbro: sale of TV subsidiary completed

(CercleFinance.com) - Hasbro announced last night that it had completed the sale of its film and audiovisual production subsidiary eOne to Lionsgate for $375 million in cash.


The deal, initially announced this summer, involves the Renegade and Daisybecksur television studios, as well as Entertainment One Canada, which hold a catalog of some 6,500 titles deemed 'non-strategic', such as 'The Rookie', 'Yellowjackets' and 'Naked and Afraid'.

Last August, Hasbro pointed out that the transaction did not include its most promising franchises, namely Peppa Pig, Transformers and My Little Pony.

Nor does it include the development projects currently being carried out in Hollywood around the Transformers, GI Joe, Play-Doh, Dungeons & Dragons and Magic The Gathering universes.

Given that Lionsgate will be assuming certain loans taken out by the subsidiary, the American toymaker plans to reduce its debt by up to $400 million.

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