that Fremantle also was among the bidders. According to sources, the indie is no longer pursuing eOne as the target price has climbed up beyond what they were willing to pay for the assets.
The process has been described by sources as not being very robust. Its current stage would fit into the time frame Hasbro CEO Chris Cocks provided in February.Hasbro bought eOne in 2019 for $4 billion when the company was divided into three divisions: Music, which has been sold; Family Brands, which Hasbro has rolled into its brands licensing and merchandising operation; and Film and TV. Hasbro previously sold eOne’s music business to private equity firm Blackstone in 2021 for $385 million.
In announcing a $760 million equity investment in Legendary a year ago, Apollo Private Equity partners Aaron Sobel and Lee Solomon noted that “we also see compelling M&A opportunities ahead,” indicating that they would be seeking to beef up the indie studio by asset acquisitions. Buying eOne would fit into that.
As Lionsgate is facing a future as a rare pure-play content company post-spinoff, the studio, with its 18,000-title library, is looking to bulk up in order to gain leverage in a competitive marketplace.
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