Thanks to an article by Bloomberg, we now know that Hasbro is in the process of reevaluating its entertainment plans.
The article highlights multiple factors including the impact of the COVID-19 Pandemic wreaking havoc on Hollywood box-office, and the passing of Hasbro’s former CEO, Brian Goldner, as the root causes of the reevaluation.
Mr. Goldner was also a part of the director board of Paramount Global (formerly known as Viacom CBS). His passing may have severed the tight connection between Paramount Pictures and Hasbro. At the moment, Paramount produces and distributes entertainment based on Hasbro properties such as Transformers, G.I. Joe, D&D, etc.
According to the article, Hasbro is looking at two options:
- [Hasbro] can take the existing staff [at eOne] and redirect it to make branded entertainment (think “Peppa Pig” movies), and shut down work on projects like “Yellowjackets” and “Designated Survivor.”
- [Hasbro] can sell everything it doesn’t want.
With the current 5-Year Agreement with Paramount Pictures coming to a closure at the end of 2022, Hasbro will also have to reevaluate the partnership on whether to extend or to let go.
CEO of eOne (a subsidiary of Hasbro), Mr. Darren Throop, will be stepping down at the end of this year as well.
According to Bloomberg, all will be announced at this year’s Investor Day.
You can check out the full article via Bloomberg.