Hasbro Toy Company and Entertainment One have officially closed their deal. According to Hasbro Chairman Brian Goldner, Hasbro’s acquisition of eOne — which owns Death Row Records — was complete following a $3.8 billion (yes, billion) cash transaction.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” Goldner said in a press release. “Our businesses are highly complementary with substantial synergies and a great cultural fit.
“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. We are pleased to welcome the incredibly talented eOne team to our Company.”
eOne has owned Death Row’s catalog for several years. In 2013, the company spent roughly $280 million to buy it, seven years after the iconic label declared bankruptcy. The deal with Hasbro was announced in August.
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[This article has been update. The following was published on August 24, 2019.]
Death Row Records has reportedly been acquired by the Hasbro toy company, the same entity responsible for several classic toys such as Mr. Potato Head, My Little Pony and G.I. Joe.
According to Rolling Stone, Hasbro announced on Thursday (August 22) they had purchased Entertainment One, a multimedia company that owns the children’s franchises Peppa Pig and PJ Masks.
eOne also has a music division, which just happens to be one of the largest independent labels in the industry. During this year’s first quarter, the company took in $30 million worth of revenue.
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“Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally and realize full franchise economics across our blueprint strategy for shareholders,” CEO Brian Goldner told Deadline. “We are excited to welcome eOne’s talented employees from around the world into the Hasbro family.”
eOne has owned Death Row’s catalog for several years. The company spent roughly $280 million to buy it in 2013, seven years after the legendary Hip Hop label was forced to declare bankruptcy.
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