Hasbro Keeps Peppa Pig While Selling Key Parts of TV Business
Hasbro is trying to sell some of its TV and film business, but don't expect them to let go of Peppa Pig anytime soon. The news concerning eOne TV has been reported by ScreenDaily and other outlets. A little while ago, Hasbro acquired the company for $3.8 billion. That's a large chunk of change, and with its current predicament with regulators, it might make a bit of sense to recoup that capital. Now, eOne produces a ton of things besides the popular children's television program. In particular, The Rookie and Yellowjackets both fall under the company's umbrella. Another franchise that some suspected might have been sold include the Transformers franchise, but that isn't going anywhere as of the time of this writing either. So, Hasbro might be moving off of some production, but is clearly committed to Peppa Pig, Magic: the Gathering, Power Rangers, My Little Pony and other franchises. However, some of the other stuff is going to have to move for the good of the company.
Chief Executive Officer Chris Cocks said, "Following our recent Investor Day where we introduced our new branded entertainment strategy, Blueprint 2.0, we received inbound interest from several parties for the part of the eOne television and film business that while valuable is not core to our go-forward strategy. This interest informed our decision to explore a sale process."
"The acquisition of eOne delivered fantastic talent, top tier production and deal making capability and beloved brands with strong toyetic potential including Peppa Pig," the executive explained. "We will retain these terrific capabilities while exploring the best way to maximize the value of the eOne TV & Film Business for the benefit of our shareholders."
"As we execute Blueprint 2.0 with a focus on strategic investment in key franchise brands like D&D, Peppa Pig and Transformers, we plan to expand our entertainment offerings across scripted TV, digital shorts, and blockbuster films," he continued. "We look forward to delighting audiences of all ages as we focus on delivering truly market-leading Hasbro-IP related entertainment."
Do you think this kind of sale makes sense for Hasbro? Let us know down in the comments!