Lions Gate Entertainment Corp. (NYSE:LGF.A) entered into an agreement to acquire Entertainment One Ltd. from Hasbro, Inc. (NasdaqGS:HAS) for approximately $500 million on August 3, 2023. The transaction is valued at approximately $500 million, comprised of cash of $375 million subject to additional purchase price adjustments, and the assumption of production financing loans. As part of the agreement, Lionsgate also will acquire film development rights to Hasbro?s Monopoly, based on the wildly popular board game. The agreement is subject to Hart-Scott-Rodino approval, receipt of regulatory approvals and other customary closing conditions. The transaction has been approved by both companies? Boards of Directors. The transaction has also been approved by Entertainment One?s Board of Directors. The transaction is expected to close by the end of 2023. Hasbro will use the proceeds to retire a minimum of $400 million of floating rate debt by the end of the year, and for other general corporate purposes.

Jefferies & Co., Ernst & Young and Sheppard Mullin advised Lionsgate on the transaction. J.P. Morgan and Centerview Partners served as lead financial advisors to Hasbro in the transaction. Cravath, Swaine & Moore LLP, Mayer Brown International LLP and Stikeman Elliott LLP are acting as legal counsel to Hasbro and Osler, Hoskin & Harcourt LLP is acting as legal counsel to Entertainment One.