Hasbro Announces Sale of eOne’s Music Business
“This transaction will ensure that eOne Music is well positioned to unlock great opportunities for its many talented artists and partners, as Hasbro continues to focus on the core strategic elements of our Brand Blueprint to further strengthen our position as a purpose‐led play and entertainment company. On behalf of the Board and Hasbro management, I want to recognize the strong leadership of
“I’m excited to continue to lead and grow this exceptional business. We want the creative community to know that we are focused on making sure that this only benefits them and the work we do together. I also want to thank
Hasbro intends to use its net proceeds from the sale to accelerate deleveraging and other general corporate purposes.
As part of the transaction,
J.P. Morgan is acting as exclusive financial advisor to Hasbro on the transaction,
Subject to customary closing conditions and receipt of regulatory approvals, the transaction is expected to close in the second or third quarter of 2021.
Hasbro Forward-Looking Statements
Certain statements in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will” and other words and terms of similar meaning. Among other things, these forward-looking statements include expectations concerning the proposed sale of eOne Music; the expected timetable for completing the transaction; benefits of the transaction; and de-leveraging plans. Hasbro’s actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include, but are not limited to: uncertainty as to whether the transaction will be completed in a timely manner or at all; the conditions precedent to completion of the transaction, including the ability to secure applicable regulatory approvals in a timely manner or at all or on expected terms; risks of unexpected costs, liabilities or delays; the effect of the announcement, pendency or consummation of the transaction on customers, employees, artists, partners and operating results; and other risks detailed from time to time in Hasbro’s filings with the
The company’s unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by