Particularly, it’s promoting eOne Music to entities managed by Blackstone, which additionally owns SESAC, a number one music rights group. Subsequent to the closing, eOne Music will function as a separate enterprise unit headed by present president Chris Taylor, a music business veteran.
Hasbro purchase the music unit together with its 2019 acquisition of Canada’s Leisure One.
“This transaction will make sure that eOne Music is nicely positioned to unlock nice alternatives for its many gifted artists and companions, as Hasbro continues to concentrate on the core strategic parts of … play and leisure,” mentioned Brian Goldner, CEO of the Pawtucket, RI-based Hasbro.
Hasbro mentioned it intends to make use of its web proceeds from the sale to pay down down debt and different common company functions. The deal is predicted to shut within the second or third quarter of 2021.
Hasbro manufacturers embody Magic: The Gathering, Nerf, My Little Pony, Transformers, Play-Doh, Monopoly, Dungeons & Dragons, Energy Rangers, Peppa Pig and PJ Masks.