Hasbro’s CEO has been talking about the reasons the company decided to sell Entertainment One to Lionsgate.
One of the most prolific distributors of films in the UK over the last 15 years or so has been Entertainment One, a company that backed a wide range of movies and gave them wide releases over here. Well, until Hasbro got interested. EOne was bought up by Hasbro back in 2019, and in the years since, its theatrical release roster soon diminished. Partly because of Covid, of course. But also, because Hasbro was more interested in the bigger parts of EOne, and theatrical releases didn’t fit.
Earlier this year then came the news that EOne’s UK film distribution was shutting down, and we understand that the London office is pretty much all but gone.
Hasbro has sold EOne’s assets to Lionsgate, and the latter hasn’t announced its plans in that regard yet. But in an investor call, Hasbro’s chief executive Chris Cocks has defended the sale. In true corporate, movie lover’s speak, he uttered the words: “eOne brought a lot of assets to the table. But after three years of integrating them, less than 5% of our efforts at the film and TV division were around driving Hasbro brands”.
Cocks is not wrong when he further argues that Lionsgate feels a more natural home for EOne’s assets, primarily because Lionsgate remains interested in film and TV, and seems to care more about it.
There’s more on the conference call here, if you want to read it.
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