Hasbro’s sale of its eOne film and TV business to Lionsgate for US$375 million in cash was finalized just before the start of the new year.

This deal encompasses everything in the eOne stable except its family brands, which include Peppa Pig, PJ Masks and a new CG-animated adventure series called Kiya & the Kimoja Heroes (52 x 11 minutes) that launched last year. Lionsgate has also picked up film development rights to Hasbro’s iconic board game Monopoly, plus unscripted series such as Play-Doh Squished. 

Despite the sale, Hasbro plans to continue playing a leading role in the film and TV industry. Last August, the toyco launched its Hasbro Entertainment division, which is headed up by former eOne executives Olivier Dumont (president), Zev Foreman (head of film) and Gabriel Marano (head of TV). HE is currently developing and financing more than 30 projects, including CG-animated feature film Transformers One (due out this year) and an eight-episode Dungeons & Dragons live-action series for Paramount. 

Hasbro will use the proceeds from eOne’s sale to eliminate approximately US$400 million in corporate debt.