Toymaker turned Hollywood producer Hasbro said Monday it’s selling the music business of Entertainment One to investment firm Blackstone for $385 million in cash.Specifically, it is selling eOne Music to entities controlled by Blackstone, which also owns SESAC, a leading music rights organization.
Subsequent to the closing, eOne Music will operate as a separate business unit headed by current president, music industry veteran Chris Taylor.Hasbro acquire the music unit along with its 2019 acquisition of Canada’s Entertainment One.“This transaction will ensure that eOne Music is well positioned to unlock great opportunities for its many talented artists and partners, as Hasbro continues to focus on the core strategic elements of … play and
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