toymaker Hasbro said Thursday it is exploring the sale of its Entertainment One film and TV production and distribution unit.
“Following our recent Investor Day where we introduced our new branded entertainment strategy, Blueprint 2.0, we received inbound interest from several parties for the part of the eOne television and film business that while valuable is not core to our go-forward strategy,” Hasbro’s CEO Chris Cocks said in a statement. “This interest informed our decision to explore a sale process.”
The announcement comes three months after the company said eOne CEO Darren Throop departs the company by year’s end.
Hasbro shares gained 1.3% in early trading Thursday to $56.71.
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Reference-www.thewrap.com
