Could Star Wars toymaker Hasbro sell off its entertainment arm?

(Picture: WebMovie)

The world’s largest toymaker, Hasbro, seems to be giving up on its dream of Hollywood dominance.

Hasbro has a long association with Disney, making Star Wars, Marvel and disney princess mouse house toys.

The toy giant is reportedly looking to sell entertainment company eOne, for which it paid $4 billion in 2019. eOne was the Canadian company behind the preschool mainstays Peppa Pig and PJ Masks. It is also the company that produces the next Dungeons & Dragons film starring Chris Pine, as well as the Power Rangers Netflix reboot and a series based on Monopoly.

Former CEO of Hasbro Brian Goldner reportedly pushed for the acquisition in hopes of cutting out the middleman and allowing Hasbro to make movies based on its own franchises in-house. Since Goldner’s unexpected death last yearit seems that society is cooling off at the idea of ​​going into the cinema.

Of Bloomberg

Hasbro is considering two options, according to several people familiar with its plans. It can take existing staff and redirect them to create branded entertainment (think “Peppa Pig” movies) and halt work on projects like “Yellowjackets” and “Designated Survivor.” Or he can sell whatever he doesn’t want. He has already sold the music company, which owned Death Row Records, for $385 million.

“Entertainment is at the heart of Hasbro. As part of our strategic review process, we are always open to new and better ways to tell stories and bring people together through the power of play through our world-class family of brands,” Hasbro said.

What effect, if any, would this have on Star Wars and Disney toys? Probably little or none at all. If Hasbro pulls out of the entertainment business, it will likely double down on toy production and find studios to partner with to make movies and TV shows in the future.

Even if Hasbro were to lose the Disney licenses for whatever reason, there is still substantial consumer interest in Hasbro properties. A recent pre-order campaign for a $300 GI Joe HISS tank recorded more than 18,000 orders…much more than pre-orders for a Reva replica lightsaber from the Disney Plus Obi-Wan Kenobi series.

In fact, Hasbro blamed its dismal results in 2018 on a surplus of unwanted Disney Star Wars toys.

Ouch.

[Source: Bloomberg]

Pirates & Princesses (PNP) is an independent, fan-powered news blog that covers Disney and Universal theme parks, themed entertainment, and related pop culture from a consumer perspective. The opinions expressed by our contributors do not necessarily reflect the views of PNP, its publishers, affiliates, sponsors or advertisers. PNP is an unofficial source of information and has no connection with The Walt Disney Company, NBCUniversal or any other business we can cover.

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