2023-04-20 19:17:44 ET
Hasbro ( NASDAQ: HAS ) is reportedly talking to the founder of its Entertainment One studio about selling the assets back to him.
The toymaker was reported late last year to be seeking a buyer for most of the unit , which it acquired in 2019 for more than $4B. And it's been selling off pieces of EOne it hasn't considered core to its strategy, such as the unit's music business.
Now Hasbro is talking to EOne founder Darren Throop about transferring most of the assets, Bloomberg reported, adding that Throop has backing from private-equity name CVC Capital Partners.
Assets on the block include EOne's production business for films and television as well as a library of about 6,500 titles -- and they make up about 16% of Hasbro's ( HAS ) revenue, about $1B in total, according to the report. But Hasbro may want to hold the Peppa Pig children's brand it acquired in the deal.
Among Entertainment One's recent titles is Showtime's Yellowjackets series, now on its second season. And along with Hasbro's Wizards of the Coast and Paramount, it recently co-produced the modest hit film Dungeons & Dragons: Honor Among Thieves.
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Hasbro reportedly discussing sale of EOne studio back to founder