|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||7.15 - 7.15|
|52 Week Range||4.00 - 7.98|
|Beta (3Y Monthly)||0.47|
|PE Ratio (TTM)||119.17|
|Forward Dividend & Yield||0.02 (0.26%)|
|1y Target Est||N/A|
Entertainment One Ltd on Friday posted a wider first-quarter loss, dented by lower sales in its film, television & music segment, as the Canada-based company prepares to be acquired by U.S. toy maker Hasbro Inc. Quarterly sales were dragged by leaner performance in the film, television & music division due to lower broadcasting and licensing revenues, the entertainment firm said. In August, Hasbro said it will buy Entertainment One for about $4 billion in cash, adding the independent studio with preschool brands such as Peppa Pig to the U.S. company known for Nerf and Power Rangers.
Moody's Investors Service ("Moody's") has today placed under review for upgrade the Ba3 corporate family rating (CFR) and the Ba3-PD probability of default rating (PDR) of Entertainment One Ltd. (Entertainment One or the company). Moody's has also placed under review for upgrade the B1 instrument rating on the GBP425 million backed senior secured notes due 2026 issued by the company. The rating action follows the announcement on 23 August 2019 that Hasbro, Inc. (Hasbro, Baa1 senior unsecured rating under review for downgrade) and Entertainment One have entered into a definitive agreement under which Hasbro will acquire Entertainment One in an all-cash transaction valued at approximately GBP3.3 billion or USD4.0 billion.
Moody's Investors Service ("Moody's") today placed Hasbro, Inc.'s ("Hasbro") Baa1/Prime-2 ratings on review for downgrade following its announcement that it will acquire UK-listed Entertainment One Ltd. for GBP3.3 billion or approximately $4.0 billion. Hasbro plans to fund the acquisition with debt and $1-$1.25 billion of equity. Moody's expects that if the deal closes and is funded as contemplated, that Hasbro's senior unsecured rating would be downgraded by at least one, but not more than two notches.
Hasbro has acquired Entertainment One for $4 billion, a deal that comes with Peppa Pig and lots of other assets.
U.S. toy maker Hasbro has agreed to buy Peppa Pig and PJ Masks owner Entertainment One but the $4 billion offer could start a bidding war.
European shares fell on Friday after U.S. President Donald Trump furiously reacted to China's latest imposition of tariffs on certain U.S. goods, while a lack of direction in the U.S. central bank's rate outlook somewhat frustrated investors. In a surprise move Beijing imposed additional tariffs on thousands of U.S. products effective Sept. 1, infuriating Trump who hit back asking U.S. companies to start looking for alternatives to their China operations.
The deal agreed by the Nerf and Power Rangers-maker was four times the 1 billion-pound ($1.22 billion) takeover offer which eOne rejected from UK commercial broadcaster ITV in 2016 as undervaluing the company. Some analysts, however, suggest the deal may not be cast in stone, questioning how the part of eOne's business that is not aimed at infants and preschoolers will fit in with Hasbro's offering of children's toys or dolls. Entertainment One also distributes movies aimed at an adult audience in a number of markets, which might make its film production and distribution arms of interest to Disney or another leading company in a media and streaming sector that is deep in flux, according to analysts.
The boards of the two companies said on Thursday that they had agreed a price of roughly $4 billion (3.27 billion pounds) in cash for the deal, which gives Hasbro access to Entertainment One's lucrative shows aimed at infants and preschoolers. Under the deal, Entertainment One's shareholders will receive 560 pence per share, representing a premium of 26.4% to Thursday's close. Entertainment One's shares rose to as much as 579 pence on Friday.
Hasbro Inc will buy Entertainment One Ltd for about $4 billion (3.27 billion pounds) in cash, expanding into the lucrative infant and preschool market by gaining access to popular TV shows like Peppa Pig and PJ Masks. The deal for the independent studio will give the Nerf and Power Rangers toymaker more exposure in its content media push, where it has been buying smaller firms and tying up with major movie studios to boost sales of toys linked to movie franchises. Last year, it spent about $520 million to add children's entertainment and merchandising franchises, including the characters of the superhero TV show Power Rangers.
The deal for the independent studio will give the Nerf and Power Rangers toymaker more exposure in its content media push, where it has been buying smaller firms and tying up with major movie studios to boost sales of toys linked to movie franchises. Hasbro has also linked up with Paramount Pictures and Walt Disney and has seen growth with Marvel's "Avengers" toys. Chief Executive Officer Brian Goldner said Hasbro will leverage eOne's brands to expand opportunities globally.
Toy giant Hasbro recently bought Entertainment One, known for shows like "Peppa Pig" and "PJ Masks" for $4 billion. Yahoo Finance's Brian Sozzi had a chance to chat with the CEO about what this means for the future of Hasbro in the streaming industry.