Hasbro Board Authorizes Sale Process For EOne TV And Film Business

(RTTNews) - Hasbro Inc. (HAS) said that its board has authorized a sale process for the part of its eOne TV and film business not directly supporting the company's Branded Entertainment strategy.

Hasbro noted that it will maintain the capability to develop and produce animation, digital shorts, scripted TV and theatrical films for audiences related to core Hasbro IP.

Hasbro plans to significantly increase strategic investment in key brands, with a focus on gaming, direct to consumer, Franchise Brands and licensing.

The company has retained J.P. Morgan and Centerview Partners to assist with the sale process. The Company anticipates that the process will take several months.