Hasbro Inc. is reportedly in talks to sell most of the assets of its film and television studio, Entertainment One (EOne), back to its founder Darren Throop, according to sources familiar with the matter. Throop, who previously served as the CEO of EOne, is said to be among the leading bidders, with the backing of private equity firm CVC Capital Partners. The units on the block include EOne’s film and TV production business and a library of about 6,500 titles that account for about 16% of Hasbro’s total revenue. The sale is part of Hasbro’s strategy to divest EOne divisions that are not central to its business strategy, with the proceeds to be invested in its gaming brands, including Magic: The Gathering and Dungeons & Dragons, and to pay down debt.
EOne was created from the merger of several music distributors and expanded into Hollywood in the 2000s. It recently produced titles such as the film "The Woman King" and the TV series "Yellowjackets," which airs on Showtime. Hasbro acquired EOne in 2019 for $4 billion and gained the rights to the popular Peppa Pig kids franchise. Earlier this year, Hasbro sold EOne’s music business to Blackstone Inc. for $385 million. In November, the company engaged JPMorgan Chase & Co. and Centerview Partners to steer a sale of EOne after CEO Chris Cocks said potential buyers had expressed interest.
The potential sale to Throop and CVC Capital Partners would mark a return to EOne’s roots, and the company could potentially focus on expanding its film and TV production capabilities under Throop’s leadership. However, the deal is not yet finalised, and neither Hasbro nor Throop have commented on the matter.