Lionsgate closes acquisition of eOne for $375m

Source: Showtime

‘Yellowjackets’

Liosgsate top brass said on Wednesday the company had closed the acquisition of eOne from Hasbro for $375m in cash subject to purchase price adjustments, plus the assumption of production financing loans.

The acquisition boosts the stable of brands and potential franchises with properties like Monopoly, brings 6,500 film and television titles into the Lionsgate library, bolsters its scripted and unscripted television businesses, and deepens its presence in Canada and the UK.

eOne produces hit ABC franchise The Rookie, Showtime series Yellowjackets (pictured) and the long-running Discovery unscripted series Naked & Afraid.

Former eOne owner Hasbro holds on to brands like the hugely popular children’s property Peppa Pig, as well as Transformers and Dungeons & Dragons and will exploit through its entertainment division.

“The eOne acquisition concludes a busy year in which we continued to execute our strategy of strengthening our studio business as we prepare for the separation of Lionsgate and STARZ into pure play standalone companies,” said Lionsgate CEO Jon Feltheimer.

“As we’ve conducted our integration planning, our analysis has reaffirmed our conviction that eOne will be a valuable and highly accretive addition to our business. We are pleased to welcome eOne’s talented group of employees to our Lionsgate family.”

Jefferies & Co., Sheppard Mullin and Denton’s Canada LLP advised Lionsgate on the transaction.

Last week Lionsgate said it will separate its film and TV business and 18,000-strong library to create Lionsgate Studios Corp., a stand-alone publicly traded entity with an enterprise value of $4.6bn. That transaction is expected to close in spring 2024.

Originally published at https://www.screendaily.com/news/lionsgate-closes-acquisition-of-eone-for-375m/5189063.article

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