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.
SilverOptimus says
News Post: Hasbro To Reevaluate Its Entertainment Plans
DarkLordMordred says
The main thing they should "re-evaluate" is allowing Lorenzo di Bonaventura to continue producing the G.I. Joe films.
Jmacq1 says
sbartek1974 says
Fred Broca says
Griff says
DrFever says
So is someone just going to out right buy Hasbro? It seems like the IP bidding wars are cooling off (?).
wehrmanm says
The only big impact here for Joe is likely at best a longer delay before we get another film (if at all), as long as studio-exclusive contracts remain of interest to Hasbro.
Transformers is a cash cow, so they may stay with Paramount, and Hasbro has some leverage to say "oh, you want TF? Well you have to commit to X number of movies across this array of franchises as well."
Frankly we're not seeing any big screen Joe anything until 2027-2028 at the earliest anyway, so this is an interesting development, but I don't expect any of us will notice that much.
CodeNameRebel says
Transformers is a cash cow, so they may stay with Paramount, and Hasbro has some leverage to say "oh, you want TF? Well you have to commit to X number of movies across this array of franchises as well."
Frankly we're not seeing any big screen Joe anything until 2027-2028 at the earliest anyway, so this is an interesting development, but I don't expect any of us will notice that much.
YouNotCookin says
Keep reading: Hasbro To Reevaluate Its Entertainment Plans - Page 2
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