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Showing posts with label Hasbro Studios. Show all posts
Showing posts with label Hasbro Studios. Show all posts

Tuesday, November 22, 2022

Hasbro To Sell eOne TV, But Keep Family Brands

In a development that many saw coming, Hasbro has announced today that it’s initiating a sale process for eOne’s library and adult-skewing scripted and unscripted content businesses.

“As we execute Blueprint 2.0 [link] with a focus on strategic investment in key franchise brands like D&D, Peppa Pig and Transformers, we plan to expand our entertainment offerings across scripted TV, digital shorts and blockbuster films,” said CEO Chris Cocks in a statement.

Olivier Dumont, president of kids and family brands at eOne, has confirmed to Kidscreen that his division will not be affected by the sale. The eOne Family Brands portfolio includes high-performing IPs such as PJ Masks, Power Rangers and preschool series Ricky Zoom. PJ Masks, in particular, has a robust Hasbro-branded consumer products program spanning toys, playsets and costumes, as well as a broad range of licensed products from category-leading partners.

Assets that are for sale include eOne’s library content, unscripted series and non-Hasbro scripted series and films, as well as Hasbro’s stake in eOne’s film and TV distribution business.

The announcement builds on Hasbro’s most recent investment call, in which the company introduced a strategy to lean on its legacy IPs for brand-building, while using eOne’s studio capabilities to develop new ones like Kiya. In February, Hasbro hired Ruedilyn Cox as VP of global franchise strategy and management for this fledging TV-driven IP that centers around a young superhero and her best friends.

“The company plans to maintain significant development, production and financing capabilities to support its core brands across film, TV, animation and digital shorts,” according to Hasbro’s investor statement, which notes that its entertainment team will continue to operate under the eOne production banner until—and if—a sale is completed.

Sunday, November 20, 2022

Power Rangers Actor Jason David Frank Has Died

Jason David Frank was a key attraction to the Power Rangers franchise, debuting on the original Mighty Morphin Power Rangers series when it premiered in 1993. Frank was one of the most–if not the most–consistent presence throughout the franchise, appearing in 10 series and four movies. Although he primarily portrayed the Green Ranger, he would also later play the White, Black and Red Rangers through various iterations in the Power Rangers franchise, which has run almost consistently since the ‘90s, with one as recently as this September.

Power Rangers of course continues to have a major fanbase, which never really gave itself a chance to die down much since 1993. Going back to that time, basically everyone of that age had a favorite Power Ranger and took on that role during recess. And let’s face it, many of us argued over who got to be the Green Ranger.

In addition to his acting career, Jason David Frank was an accomplished martial artist. Frank was an 8th degree black belt and was even inducted into the Black Belt Hall of Fame. He also had a short MMA career in 2010, with an amateur record of 3-0 and a professional record of 1-0, winning by submission.

Many have begun to send their thoughts on the news of Jason David Frank’s unfortunate death. Friend and trainer Mike Bronzoulis wrote on social media, “Jason was a good friend to me and I will miss him. Love n prayers for his wife Tammy and their kids, I pray that God gets yall through this difficult time.”

Monday, September 26, 2022

Hasbro Considering Selling Or Restructuring Its Assets

When Hasbro bought eOne under former CEO and Chairman Brian Goldner, who died unexpectedly last fall, the company was getting both valuable new intellectual properties — including PJ Masks and Peppa Pig — of benefit to its toy business, as well as knowhow in producing entertainment, giving the company a direct channel to cashing in from media made out of its own properties.

“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP,” Goldner explained in a press release at the time. “In addition, Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands … to all screens globally and realize full franchise economics across our blueprint strategy for shareholders.”

With the acquisition, Hasbro’s entertainment revenue jumped from $77.8 million in 2019 to more than $900 million in 2020 and topped $1.1 billion in 2021. The last two years have also brought operating losses in the entertainment division, in part from acquisition costs related to eOne. Hasbro, as Shaw noted, also ran into the disruption to the film and television industry created by the pandemic.

Under new CEO Chris Cocks, Hasbro launched a comprehensive review of its strategy and operations earlier this year as it looks to grow operating profit and focus on multi-generation entertainment.  

A Hasbro spokesperson did not comment specifically on the details of the Bloomberg report. “Entertainment is a core foundation at Hasbro,” the company said in an emailed statement. “As part of our strategic review process, we are always open to new and better ways to tell stories and bring people together through the power [of] play via our world-class family of brands.”

In April, Hasbro sold off one major asset from eOne — its music business — for $385 million.

Hasbro this year fended off a brush with activist investment firm Alta Fox, which had put forward a slate of three directors of its choosing to replace some current members of Hasbro’s board. Alta Fox pushed Hasbro to spin off its valuable Wizards of the Coast game business.

The activist firm also took a shot at eOne, saying in February that the acquisition “diluted Hasbro’s shareholders, added a substantial amount of debt to the balance sheet, complicated the investor narrative and destroyed significant value.”


 

Friday, September 13, 2019

What's Next For Hasbro-eOne Merger?

Nerf- and Power Rangers-maker Hasbro agreed to purchase Canadian indie producer/distributor Entertainment One (eOne) for US$4 billion on Thursday, but despite numerous reports on the merger, there isn’t lot of information on what’s next for this new media giant.

The acquisition is significant for Hasbro’s growth in family-oriented TV, movies and consumer products because the Rhode Island-based toyco will take ownership eOne’s entire film and TV production slate, which includes hit preschool IPs Peppa Pig and PJ Masks. In addition, Hasbro plans to move a significant portion of eOne’s toy business in-house; senior eOne execs are expected to join Hasbro’s team; and the toyco will gain control of eOne’s global network, which includes offices in Toronto, London, LA and Hong Kong, among others.

Hasbro’s big bet on eOne, which will close by the end of the year following regulatory approvals, came as a surprise to many industry analysts, including Pete Robinson COO of UK-based children’s media specialist KidsKnowBest.

“The shock came from the fact that eOne was doing so well on its own in the kids and family space. [But] the deal actually makes a lot of sense,” says Robinson. “eOne has done such a great job producing hit show after hit show in kids TV and most of them have consumer product ranges.”

According to eOne, Peppa Pig generated US$ 110 million in revenue in the fiscal year ended March 31, up 20% from the year-ago period, while revenue for PJ Masks increased 39% to US$73 million. In retail, sales for Peppa Pig grew 6% to US$2.5 billion, while PJ Masks’ sales rose 10% to US$1.2 billion for the year ended March 31.

“Peppa isn’t slowing down that much, but it probably hit its peak so having Hasbro around to exploit it makes a lot of sense,” says Robinson.

As for the acquisition’s effect on competitors, namely Mattel, Robinson says reorgs may be afoot. “We’ll likely see some sort of major acquisition or shake up at Mattel within the next 18 months,” he says.

With its eOne deal, Hasbro plans to “market its IP in increasingly attractive new formats including over-the-top (OTT) and premium platforms, music, location-based entertainment, AR and VR,” according to a statement from the company. To support this goal, Robinson says that Hasbro could tap eOne’s Toronto-based VR company Secret Location, which has developed a number of virtual reality films and gaming products geared toward kids, including learning app World of Peppa Pig.

“Hasbro could take some of eOne’s well-known brands, get them on the big screen and also sell across a suite of high-end or edtech products,” says Robinson. “Hasbro is really good at finding new tech, but it hasn’t always been quite as good at implementing tech into repeat sales.”

For Arthur Evrensel, a partner of business and entertainment law at Vancouver-based law firm Michael, Evrensel and Pawar, he sees the acquisition as a clear sign that Canadian companies are on the radar of major global companies, which need to bulk up in the increasingly competitive global environment.

“eOne has done a very good job of developing the brands they have acquired on the family and animation side,” says Evrensel. He adds that he is surprised by the price, but not bothered by it. “It speaks well for Canadian companies and I think people should be looking in the next year at companies like Boat Rocker and if they acquire more themselves or get acquired,” says Evrensel.

Here’s a breakdown of some key points of the acquisition:
What kids brands will Hasbro acquire?
Upon the deal’s expected completion, Hasbro will own eOne’s entire film and TV production slate, including hit preschool IPs Peppa Pig and PJ Masks. It will also gain eOne’s latest kids properties Ricky Zoom and Cupcake & Dino: General Services. The former will made its US debut on September 9 on Nickelodeon, while the latter’s second season was recently picked up by Netflix.

How will eOne be used for kids and family movies?
On Hasbro’s investor call, CEO and chairman Brain Goldner said the toyco’s existing partnership with Paramount Pictures would continue. The companies jointly finance film and TV projects based on Hasbro brands and original concepts and Paramount handles worldwide distribution. Goldner said eOne would be leveraged to develop non-priority productions outside of Hasbro’s long-term Paramount deal. Hasbro and Paramount are currently supporting book-based CGI-live-action feature Clifford the Big Red Dog and post-apocalyptic teen movie Monster Problems.

What else will stay the same?
eOne’s Canadian film and TV operations will remain as a separate Canadian-controlled unit within the combined business. According to a statement, this will ensure the operations will continue to meet Canadian control regulatory requirements in relation to TV and film production companies, to the continued benefit of the Canadian television and film production industry.

How will the executive teams be affected?
According to Hasbro, top eOne execs have agreed to join the Hasbro team, but no names, such as president of family and brands Olivier Dumont, have been mentioned yet. Last month, SVP of global distribution and development Finn Arnesen left Hasbro’s studio arm Allspark after more than nine years.
According to a company statement from
Hasbro CCO and EVP Stephen Davis, Arnesen left to seek new opportunities. Allspark’s international distribution VP Nina Scales recently took over the role.
Meanwhile at eOne, former Disney exec Kate Morton was named to the newly created role of director of content strategy at the company’s family and brands division in June. Based in London, Morton is tasked with developing and coordinating programming strategies for the global distribution of eOne’s linear and non-linear content. The hire followed the April departure of eOne’s global licensing EVP Andrew Carley, who was also based in London.

What are the terms of Hasbro’s acquisition?
Hasbro plans to finance the acquisition of
eOne, which trades on the London stock exchange, with the proceeds of debt financing and approximately US$1 to US$1.25 billion in cash from equity financing. eOne shareholders will receive US$6.80 in cash for each common share, which Hasbro says represents a 31% premium to its 30-day average price.

Has any company tried to acquire eOne before?
Three years ago, UK TV group ITV attempted to buy eOne for US$1.3 billion. In a note sent to shareholders at the time, eOne said the proposal “fundamentally undervalues the company and its prospects.” ITV subsequently withdrew the proposal. With files from Kelly Townsend and Elizabeth Foster