American toymaker Hasbro has closed its $3.8 million dollar merger with with Canadian independent studio Entertainment One in an all-cash deal whose plans were made public in August. The merge will bring children’s favorites like Peppa Pig, PJ Masks, and Ricky Zoom to Hasbro’s control, with plans for film and television adaptations highly likely.
Hasbro will prompt new licensing revenues from such eOne family brands, while the Canadian studio will be in the business of content production. Brian Goldner, Hasbro chairman-CEO, stated he is “excited” regarding the merger, adding that he sees “tremendous opportunity for shareholder value creation through this acquisition,” and that “eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global preschool brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth.”
The merge also erases nearly $450 million of debt on eOne’s part, with Hasbro paying off $700,000 as part of the deal. Under its terms, eOne shareholders will receive $6.80 in cash for each share. Stock in eOne has been suspended, closing Monday on the London Stock Exchange as the merge was finalized.
Here’s hoping the merge will finally bring audiences the Peppa Pig feature film we’ve all been waiting for.