Hasbro To Sell eOne TV, But Keep Family Brands

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In a development that many saw coming, Hasbro has announced today that it’s initiating a sale process for eOne’s library and adult-skewing scripted and unscripted content businesses.

“As we execute Blueprint 2.0 [link] with a focus on strategic investment in key franchise brands like D&D, Peppa Pig and Transformers, we plan to expand our entertainment offerings across scripted TV, digital shorts and blockbuster films,” said CEO Chris Cocks in a statement.

Olivier Dumont, president of kids and family brands at eOne, has confirmed to Kidscreen that his division will not be affected by the sale. The eOne Family Brands portfolio includes high-performing IPs such as PJ Masks, Power Rangers and preschool series Ricky Zoom. PJ Masks, in particular, has a robust Hasbro-branded consumer products program spanning toys, playsets and costumes, as well as a broad range of licensed products from category-leading partners.

Assets that are for sale include eOne’s library content, unscripted series and non-Hasbro scripted series and films, as well as Hasbro’s stake in eOne’s film and TV distribution business.

The announcement builds on Hasbro’s most recent investment call, in which the company introduced a strategy to lean on its legacy IPs for brand-building, while using eOne’s studio capabilities to develop new ones like Kiya. In February, Hasbro hired Ruedilyn Cox as VP of global franchise strategy and management for this fledging TV-driven IP that centers around a young superhero and her best friends.

“The company plans to maintain significant development, production and financing capabilities to support its core brands across film, TV, animation and digital shorts,” according to Hasbro’s investor statement, which notes that its entertainment team will continue to operate under the eOne production banner until—and if—a sale is completed.

Power Rangers Actor Jason David Frank Has Died

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Jason David Frank was a key attraction to the Power Rangers franchise, debuting on the original Mighty Morphin Power Rangers series when it premiered in 1993. Frank was one of the most–if not the most–consistent presence throughout the franchise, appearing in 10 series and four movies. Although he primarily portrayed the Green Ranger, he would also later play the White, Black and Red Rangers through various iterations in the Power Rangers franchise, which has run almost consistently since the ‘90s, with one as recently as this September.

Power Rangers of course continues to have a major fanbase, which never really gave itself a chance to die down much since 1993. Going back to that time, basically everyone of that age had a favorite Power Ranger and took on that role during recess. And let’s face it, many of us argued over who got to be the Green Ranger.

In addition to his acting career, Jason David Frank was an accomplished martial artist. Frank was an 8th degree black belt and was even inducted into the Black Belt Hall of Fame. He also had a short MMA career in 2010, with an amateur record of 3-0 and a professional record of 1-0, winning by submission.

Many have begun to send their thoughts on the news of Jason David Frank’s unfortunate death. Friend and trainer Mike Bronzoulis wrote on social media, “Jason was a good friend to me and I will miss him. Love n prayers for his wife Tammy and their kids, I pray that God gets yall through this difficult time.”

Hasbro Considering Selling Or Restructuring Its Assets

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When Hasbro bought eOne under former CEO and Chairman Brian Goldner, who died unexpectedly last fall, the company was getting both valuable new intellectual properties — including PJ Masks and Peppa Pig — of benefit to its toy business, as well as knowhow in producing entertainment, giving the company a direct channel to cashing in from media made out of its own properties.

“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP,” Goldner explained in a press release at the time. “In addition, Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands … to all screens globally and realize full franchise economics across our blueprint strategy for shareholders.”

With the acquisition, Hasbro’s entertainment revenue jumped from $77.8 million in 2019 to more than $900 million in 2020 and topped $1.1 billion in 2021. The last two years have also brought operating losses in the entertainment division, in part from acquisition costs related to eOne. Hasbro, as Shaw noted, also ran into the disruption to the film and television industry created by the pandemic.

Under new CEO Chris Cocks, Hasbro launched a comprehensive review of its strategy and operations earlier this year as it looks to grow operating profit and focus on multi-generation entertainment.  

A Hasbro spokesperson did not comment specifically on the details of the Bloomberg report. “Entertainment is a core foundation at Hasbro,” the company said in an emailed statement. “As part of our strategic review process, we are always open to new and better ways to tell stories and bring people together through the power [of] play via our world-class family of brands.”

In April, Hasbro sold off one major asset from eOne — its music business — for $385 million.

Hasbro this year fended off a brush with activist investment firm Alta Fox, which had put forward a slate of three directors of its choosing to replace some current members of Hasbro’s board. Alta Fox pushed Hasbro to spin off its valuable Wizards of the Coast game business.

The activist firm also took a shot at eOne, saying in February that the acquisition “diluted Hasbro’s shareholders, added a substantial amount of debt to the balance sheet, complicated the investor narrative and destroyed significant value.”