ITV isn’t currently interested in making a counter bid for Entertainment One, according to a person familiar with the matter. The acquisition also expands Hasbro’s reach by adding a major international brand to its portfolio. The Company specializes in acquisition, production, and distribution of film and television content across all media. “This can take their business to another level,” John Tinker, an analyst for Gabelli & Co., said. — With assistance by Stefan Nicola, David Hellier, Aaron Kirchfeld, and Cristin Flanagan, Entertainment One surges above 5.60-pound-a-share bid price, Acquisition is Hasbro’s largest ever, Bloomberg data show. The stock had gained 41% this year through Thursday’s close.
The company will maintain its dividend program.
Toronto, ON M5V 2H2 The Company specializes in acquisition, production, and distribution of film and television content across all media. Entertainment One Ltd. operates as an entertainment company. Read more: Hasbro Push Into Media Shines Light on Other Film and TV Targets. It’s also heartening to see that eOne has gotten great traction in markets like China for Peppa,” Hasbro Chief Executive Officer Brian Goldner said in a call with analysts following the deal’s announcement. And after years of looking for an entertainment company to buy, including dalliances with Lions Gate Entertainment Corp. and DreamWorks Animation, Hasbro has finally locked up a deal that equips them to make larger films, he added. Still, the chance is low, as a rival bidder might not be able to achieve the $130 million revenue synergies that Hasbro is targeting.
Hasbro plans to plug these characters into a brand-building infrastructure that has turned dormant properties like My Little Pony into massive revenue generators. Company profile page for Entertainment One Australia Holdings Pty Ltd including stock price, company news, press releases, executives, board members, and contact information After years of longing, Hasbro Inc. can finally call itself a full-fledged entertainment company. “We see opportunities for emerging markets. Hasbro has been a driving force in turning toy properties like Transformers into entertainment, but until now it has mostly had to license its characters to studios to make films, said Tinker.
Read more: Entertainment One Unique Asset, May See Counter Bid: Street Wrap. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 134 Peter Street Chief Financial Officer Deborah Thomas said the company wants to keep its investment grade rating and will look to finance the deal via term loans, bonds and proceeds from an equity offering of $1 billion to $1.25 billion.
Suite 700 He added the tie-up gives the company “a real opportunity for a beachhead that can go in China for many years to come.”. Entertainment One Ltd. operates as an entertainment company. The bonds reached a record high.
The decline in the British pound made the valuation of Entertainment One, which is listed in London and headquartered in Canada, more attractive, and the deal comes just days after Hong Kong’s Li family agreed to pay $3.3 billion for U.K. pub operator Greene King Plc. The Company specializes in acquisition, production, and distribution of film and television content across all media.
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