The Race to EOne is coming to an end and Lionsgate, Legendary, and Fremantle are nearing the finish line.
According to Deadline, Hasbro’s sale of EOne will be closing in the near future as potential acquisitors are finetuning their final pitches to buy the company next week. It’s also being reported that there may be one or two additional bids from private equity players.
The sale has been quite rigorous in Hasbro’s revised entertainment strategy as part of “Blueprint 2.0” according to Hasbro CEO, Chris Cocks.
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Bids for assets have been put up for sale by the toymaker including all scripted and unscripted TV production excluding any of Hasbro’s own intellectual properties and family brands such as Transformers, G.I. Joe, Dungeons and Dragons, Power Rangers, Peppa Pig, and PJ Masks, just to name a few.
“Our focus on content is centered around Hasbro IP for the long term,” Cocks said during the company’s fourth-quarter earnings call with analysts. “Our sales process for the majority of eOne Film and TV is well under way, with strong interest in these valuable assets. We expect to have an update in the second quarter.”
– Chris Cox via Deadline
News of EOne’s Impending Departure Shocked EveryOne
Even though the sale of EOne has been pleasantly productive thus far with a likelihood of a final decision by the end of this month, a few of Deadline’s sources are prepared for the possibility of the sale process going on a little while longer. That would equate to the timeframe Chris Cocks provided last month at Hasbro’s fourth-quarter earnings conference call.
Hasbro’s sale of EOne came as a shock to everyone including Hasbro employees. The conglomerate still has numerous productions under EOne to further expand Hasbro IP into film and television. Productions include an animated Transformers feature film, a live-action Dungeons & Dragons series on Paramount Plus, and, Jonathan Entwistle and Jenny Klein’s young adult live-action Power Rangers series coming to Netflix.
Blueprint 2.0 Activated
Many people were concerned and speculations surrounding cancelations regarding projects in development didn’t take long to grow into hysteria. Cocks put those concerns to rest assuring that film and television remain vital to “Blueprint 2.0”.
“The acquisition of eOne delivered fantastic talent, top tier production and deal making capability and beloved brands with strong toyetic potential including Peppa Pig. 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.”
– Chris Cocks via Deadline
It’s been said that Hasbro intends to maintain a working relationship with EOne as finding a buyer who shares their interests is a top priority for the company. However, it is unclear how involved eOne will be in Hasbro IP-driven projects post-sale.
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Cocks is selling EOne simply because it doesn’t make financial sense for Hasbro to own the film company due to inflation as well as other challenges. Lionsgate, Legendary, and Fremantle among others are interested in buying EOne due to the value it brings with a rich catalog of award-worthy films such as The Fabelmans and The Woman King in addition to hit series like Yellowjackets and The Recruit. That being said, this should be mutually beneficial between Hasbro and whoever ends up buying EOne.
The Fight For EOne
EOne seems like it would be a good fit for either Lionsgate or Legendary. To be honest, I’m not so sure about Fremantle, knowing that Hasbro wants a buyer who shares their interests and Fremantle has been primarily focused on drama, comedy, and unscripted content. Fremantle doesn’t seem like the perfect home for Hasbro’s EOne. Then again, I don’t know what Fremantle has up their sleeve, perhaps they want to do something different, we’ll see.
Lionsgate or Legendary seems to have a higher probability by leaps and bounds. Lionsgate is a phenomenal entertainment company that lives up to the word ‘Lion’ in its name. It is one of the largest film studios in the Hollywood industry boasting a vast array of successful franchises ranging from The Hunger Games to John Wick, with Knives Out and La La Land somewhere in between. Lionsgate is more than capable of meeting Hasbro’s expectations for EOne.
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As for Legendary, the studio with a string of legendary films(pun very much intended) under their belt is stopping at nothing to get bigger and better, especially now coming off the heels of their minority stake being sold to Apollo. Legendary is no stranger to collaboration, the studio has done Dune and Godzilla vs Kong with Warner Bros, and they’re still working together on new installments for both franchises. If Legendary acquired EOne, it could be the start of a lucrative partnership with Hasbro.
As exciting as the possibilities can be, let’s not get ahead of ourselves, there still may be one or two other buyers on the table.
Place your bets, who do you think will acquire EOne from Hasbro? Let us know in the comments. If you like what you read, there’s more where that came from. Follow Moriviews on Twitter, Instagram, or Facebook, and subscribe so you don’t miss a thing.
Source: Deadline
