Hasbro is kicking off the New Year in style, having officially closed its $3.8billion deal to acquire Entertainment One.
The all-cash acquisition of the Canadian independent studio was first announced in August last year but was subject to approval by competition watchdogs owing to the strength that the now completed deal offers Hasbro in the pre-school market.
Hasbro has now been officially handed the keys to animated series such as Peppa Pig, PJ Masks, and Nickelodeon’s newest Ricky Zoom. The toymaker will also be able to team with eOne on its more recent expansions into feature films, such as Clifford the Big Red Dog and Monster Problems.
Outlined by Brian Goldner, Hasbro’s chairman and CEO, last year, the goal is to combine Hasbro’s IP with eOne’s studio power in order to better reach audiences across a range of platforms.
Entertainment One’s content library includes $2billion worth of movies and TV series. It’s been speculated that this has the potential for Hasbro to enter the streaming service space, or license its now some 80,000 hours of content to the likes of Netflix, Amazon, Disney, or Apple.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” said Goldner in a statement made on Monday.