Hasbro sells eOne film and TV unit to Lionsgate for $500M amid lower revenue forecasts

Hasbro is selling its eOne film and TV business to Lionsgate for approximately $500 million in cash and assumed loans.
The sale includes eOne's library of nearly 6,500 titles and its unscripted business but excludes high-profile IP like Peppa Pig.
Hasbro plans to reinvest proceeds into more profitable toy and game brands and transition to an "asset-lite" entertainment model.
The company lowered its 2023 revenue guidance by 3-6% due to the ongoing Hollywood strikes impacting the entertainment business.
Lionsgate gains valuable IP, global production capabilities, and the opportunity to expand its scripted and unscripted content.