Lionsgate logo. | Courtesy of Lionsgate
Santa Monica-based Lionsgate has completed its acquisition of the Entertainment One film and TV studio from Hasbro for $375 million in cash, it was announced Wednesday.
The sale adds 6,500 film and television titles to Lionsgate’s existing library, including the Showtime hit “Yellowjackets,” ABC’s “The Rookie” and Discovery’s “Naked & Afraid” franchise.
The sale is subject to purchase price adjustments, plus Lionsgate’s assumption of production financing loans for eOne projects, according to toy and gaming company Hasbro. Lionsgate approximated the total value of the transaction to be $500 million in August.
Earlier this month, Lionsgate reportedly laid off 10% of eOne’s workforce in preparation for the merger closing. Cuts previously hit eOne in June, when Hasbro reduced the studio’s staff by 20% amid its plan to sell the asset.
Hasbro said it will continue to develop and produce entertainment based on its brands, which include “Magic: The Gathering,” “Dungeons & Dragons” and “Peppa Pig.”
The sale includes unscripted television production companies Renegade and Daisybeck, as well as Hasbro’s interest in the Canadian film and TV operations of Entertainment One Canada Limited, the toy company said.