Updated with comments by Hasbro execs made during an analyst call. The $3.8 billion all-cash deal … Hasbro missed the Thomson Reuters analyst forecast for 58 cents per share in earnings and revenue of $1.14 billion. "As a result of COVID-19, we expect the second quarter to be more challenging than the first quarter of the year with revenues and earnings down versus pro forma 2019. Adding eOne to Hasbro will be accretive to adjusted EPS in the first year after the transaction, with mid- to high-teens accretion to adjusted EPS in the third full year after the close of the deal. display: none !important; Please, whitelist realscreen.com in your ad blocker and refresh your browser. The Pretty Things — The Most Important Band You Don't Know, Meet Lady A, the Black Blues Singer Whose Name Got Taken by Lady Antebellum — Our Latest Podcast, Spotify Probably Owes You More Money — Here’s How to Get It (Our Latest Podcast), Meet the Artist Who Is Literally Saving His Fans’ Lives — Our Latest Podcast, How to Game the Billboard Charts (And Why You Shouldn’t) — Our Latest Podcast, Meet the Single Mom Cellist Who Makes a Living Off Her Music — Our Podcast Interview, How to Protect Yourself From the Copyright Trolls — Our Latest Podcast, Triller Denies Inflating User Data, Says Former Employees Are ‘Disgruntled’, Kanye West Settles Copyright Infringement Lawsuit After Sampling a Child’s Voice, Layoffs at the Grammy Awards — 13 Lose Their Jobs as Major Re-org Continues, NBA Ratings Crash Could Dramatically Lower Advertising, Music Licensing Fees In 2021, Spotify Employees Threaten to Strike If Joe Rogan Podcasts Aren’t Edited or Removed, How to Get on Spotify Playlists — Try These 16 Proven Tips. The combined business will also see top eOne execs joining the Hasbro team, according to a joint statement from the businesses. eOne also recently acquired the UK-based Audio Network to expand its global royalty accounting and publishing capabilities.
As part of the deal, Hasbro indicated that eOne’s top executives would be joining Hasbro. Here’s a Detailed Breakdown of Radio Monitoring Companies, The Payback Begins: Taylor Swift Confirms Her Intentions to Re-Record Albums 1-5, The 1975 Refuse to Produce New T-Shirts Because It Harms the Environment, Choose Instead to Recycle Their Older T-Shirts, Microsoft’s TikTok Acquisition Is Called Off — 48 Hours Before Trump’s Shutdown Deadline, Hipgnosis Acquires an Entire Music Publisher — Big Deal Music Group, Music Reports Acquired by Private Equity Firm MidOcean Partners, Napster Changes Hands Again In $70 Million Acquisition Deal. It Starts With the Winning Pitch, Want Your Music In a Major Gaming Series? The closing of toy store giant Toys ‘R’ Us last year forced Hasbro to diversify its operations into the entertainment business. Jillian Morgan. As part of this, in June of this year the company announced that it had entered into a partnership with Netflix, which is developing an animated series that is based on a trading card game that Hasbro makes called “Magic: The Gathering.”. “The addition of eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global preschool brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth. Under terms of the deal, eOne executives will join the Hasbro team, with Darren Throop, president and CEO of eOne, reporting to Hasbro chairman and CEO Brian Goldner. Artist Branding Isn’t Selling Out Anymore — But What’s the New Balance? Though, as of now, they have yet to name any of these executives nor have they described what their roles at Hasbro would entail. She focuses heavily on breaking news relating to both artists and music tech companies. The company forecast an "early third quarter return" to live-action film and TV production, as eOne continues animation production with artists often working remotely.
He also told analysts he didn't see eOne having to shrink its overall TV development and production slate as a result of the pandemic. Hasbro highlighted that it had $1.2 billion in cash and a revolving credit facility of $1.5 billion available at the end of the first quarter. "We don't believe there's a loss of demand, we just believe it's a shift of timing and that we will deliver all these episodes," he said as the impact of the TV production shutdown continues into the second quarter. Hasbro has a market cap of $13.69bn, while eOne… Hasbro is poised to become a bigger player in entertainment now that the toy giant has completed its acquisition of Entertainment One. six − = 0 .hide-if-no-js {
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