Hasbro, Inc 8-K, filed Jun 29, 2021
Hasbro, Inc. (HAS)
8-K
2021-06-29
For: 2021-06-29
View Original
Added on
April 09, 2026
About this 8-K
Hasbro, Inc filed this 8-K on June 29, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 29, 2021
(Exact name of registrant as specified in its charter)
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(Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code: (401 ) 431-8697
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act.
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On June 29, 2021, Hasbro, Inc. (“Hasbro” or “we”) and Entertainment One Canada Ltd. (“EOCL”) completed the sale of Entertainment One Music pursuant to an Equity Purchase Agreement dated April 25, 2021 (as amended, supplemented or otherwise modified from time to time), among Hasbro, EOCL, certain entities controlled by The Blackstone Group Inc. and affiliates of SESAC, a leading music rights organization, for an aggregate purchase price of $385 million in cash, subject to customary purchase price adjustments (the “Transaction”). Hasbro intends to use its net proceeds from the Transaction to accelerate deleveraging and other general corporate purposes.
A copy of the press release issued by Hasbro on June 29, 2021 announcing the completion of the transaction is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HASBRO, INC. | ||||||||
| | ||||||||
| By: | /s/ Deborah Thomas | |||||||
| Name: | Deborah Thomas | |||||||
| Title: | Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) | |||||||
| Date: June 29, 2021 | ||||||||
EXHIBIT 99.1
For Immediate Release
Hasbro Completes Sale of eOne Music Business
PAWTUCKET, RI – June 29, 2021 – Hasbro, Inc. (NASDAQ:HAS) announced today that it has completed the sale of the Entertainment One Music business (“eOne Music”) for an aggregate purchase price of $385 million in cash to entities controlled by Blackstone, which also own SESAC, a leading music rights organization. As part of the transaction, Entertainment One Canada Limited sold the Canadian music division of Entertainment One.
The music group will now operate as a separate business unit headed by its current Global President, music industry veteran Chris Taylor, and will focus on building a creator-first music brand with global scale and expertise.
Hasbro intends to use its net proceeds from the sale to accelerate deleveraging and other general corporate purposes.
J.P. Morgan acted as exclusive financial advisor to Hasbro on the transaction, Cravath, Swaine & Moore LLP, Mayer Brown International LLP and Stikeman Elliott LLP acted as legal counsel to Hasbro and Osler, Hoskin & Harcourt LLP acted as legal counsel to Entertainment One Canada Limited.
Hasbro Forward-Looking Statements
Certain statements in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will” and other words and terms of similar meaning. Among other things, these forward-looking statements include statements regarding the intended uses of the proceeds from the sale of the eOne Music; benefits of the transaction; and deleveraging plans. Hasbro’s actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include those risks detailed from time to time in Hasbro’s filings with the U.S. Securities and Exchange Commission (the “SEC”). The statements contained herein are based on Hasbro’s current beliefs and expectations and speak only as of the date of this press release. Except as may be required by law, Hasbro does not undertake any obligation to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release. You should not place undue reliance on forward-looking statements.
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About Hasbro
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to making the world a better place for all children, fans and families. Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games; entertainment through eOne, its independent studio; and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games best known for fantasy franchises MAGIC: THE GATHERING and DUNGEONS & DRAGONS.
The Company’s unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World’s Most Ethical Companies by Ethisphere Institute. Important business and brand updates are routinely shared on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter, Instagram, Facebook and LinkedIn.)
© 2021 Hasbro, Inc. All Rights Reserved.
HAS-IR
Press Contact: Crystal Flynn | Hasbro, Inc. | 617-849-2368 | crystal.flynn@hasbro.com
Investor Contact: Debbie Hancock | Hasbro, Inc. | (401) 727-5401 |debbie.hancock@hasbro.com
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