Global entertainment company Lionsgate has closed the deal on buying Hasbro’s Entertainment One (eOne) for $375 million in cash. While this is the same price tag as when the merger was announced in August, it is still subject to certain purchase price adjustments. This includes the assumption that certain production financing loans will come through. So while it’s a done deal, some clerical uncertainties still exist.
This acquisition gains Lionsgate 6,500 different film and television titles, making its catalog one of the largest in the world. Not only is the company’s library expansive but diverse as well. eOne produces ABC’s “The Rookie,” SHOWTIME’s critical claimed series “Yellowjackets,” and Discovery’s “Naked & Afraid.” This creates a good mix of well-established scripted and unscripted IPs.
Adding to the recent trend of classic toys being adapted into films, the deal also gives Lionsgate the right to develop Hasbro’s family-ruining game Monopoly into a movie.
“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and STARZ into pure play standalone companies,” Lionsgate CEO Jon Feltheimer said. “As we’ve conducted our integration planning, our analysis has reaffirmed our conviction that eOne will be a valuable and highly accretive addition to our business. We are pleased to welcome eOne’s talented group of employees to our Lionsgate family.”
While the recent slew of large mergers has left a bitter taste in many fans’ mouths, we hope this acquisition delivers unique and interesting content. And strays away from the current slash-and-burn model many companies are taking.
We’re looking at you, Warner Bro. Discovery.
