The US ticketer and Broadway promoter are to become part of the Learfield family, allowing Red Lion Hotels to focus solely on its hotel brands
Sign up for IQ Index
The latest industry news to your inbox.
The My Little Pony creator will pay $4bn to take control of eOne, whose music companies include Round Room Entertainment and Death Row Records
By Jon Chapple on 23 Aug 2019
Hasbro, the US toy/board game giant whose brands include Monopoly, Transformers, My Little Pony, GI Joe and Power Rangers, has announced its acquisition of Entertainment One (eOne), the Canada-based, London Stock Exchange-listed TV, film and music company.
While Hasbro’s PR largely focuses on eOne’s TV properties, including all-conquering children’s TV colossus Peppa Pig, the all-cash transaction, worth US$4 billion (£3.3bn), also sees the company acquire eOne’s music businesses, including live production outfit Round Room Entertainment, labels Dualtone, Death Row and Last Gang Records and management firm People’s Champ.
Rhode Island-based Hasbro says the acquisition will “strengthen Hasbro’s end-to-end ability to monetise and bring to market its IP in increasingly attractive new formats, including over-the-top (OTT) and premium platforms, music, location-based entertainment, AR and VR”.
“Hasbro’s portfolio of integrated toy, game and consumer products will further fuel the tremendous success we’ve achieved at eOne”
“Hasbro’s portfolio of integrated toy, game and consumer products will further fuel the tremendous success we’ve achieved at eOne,” says Darren Throop, Entertainment One’s CEO. “There’s a strong cultural fit between our two companies: eOne’s stated mission is to unlock the power and value of creativity, which aligns with Hasbro’s corporate objectives.
“EOne teams will continue to do what they do best, bolstered by the access to Hasbro’s extensive portfolio of richly creative IP and merchandising strength. In addition, the resulting expanded Hasbro presence in Canada through eOne’s deep roots will bring world-class talent and production capabilities to Hasbro. Along with our leadership team, I look forward to working with Hasbro on our joint growth and success for many years to come.”
Entertainment One’s share price climbed by nearly 30% in early trading on Friday (23 August) morning.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.