July 13, 2024 Breaking News, Latest News, and Videos

Lionsgate Buying TV and Movie Business for $500 Million

The Transaction Comes Four Years After It Was Acquired for $4 Billion.

Hasbro is finalizing a $500 million deal to sell its eOne (Entertainment One) television and movie business to Santa Monica-based Lionsgate, Fortune reported. The transaction comes four years after Hasbro initially acquired eOne for $4 billion.

The agreement with Lionsgate comprises $375 million in cash, along with the assumption of production financing loans. The acquisition will grant Lionsgate access to eOne’s extensive library of nearly 6,500 titles, which includes well-known shows like “Grey’s Anatomy,” “Yellowjackets,” and “The Woman King.” Additionally, Lionsgate will gain film development rights to Hasbro’s adaptation of the popular board game, Monopoly.

As part of the deal, Lionsgate can expand operations in the U.K. and Canada. This comes as Lionsgate has recently initiated production partnerships with notable entities like BBC Studios, Channel Four, the CBC, Rogers’ CityTV, and Bell Media in these regions.

Back in 2019, Hasbro had acquired Entertainment One Ltd. in an all-cash deal valued at approximately $4 billion. At that time, Hasbro’s main interest in eOne was centered around its preschool brands, which notably included the well-loved franchises Peppa Pig and PJ Masks. Despite the sale of eOne’s television and movie business, Hasbro will retain ownership of the family brands division, ensuring continued access to Peppa Pig and PJ Masks.

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