Hasbro’s Sale of eOne’s Music Business

On April 26, 2021, Hasbro, Inc. (“Hasbro”) announced that it has entered into a definitive agreement to sell Entertainment One Music (“eOne Music”), a leading independent music business, for an aggregate price of $385 million in cash. eOne Music will be acquired by entities controlled by Blackstone, which also owns SESAC, a leading music rights organization. Subsequent to the closing of the transaction, eOne Music will operate as a separate business unit headed by its current Global President. As part of the transaction, Entertainment One Canada Limited will sell the Canadian music division. Cravath is representing Hasbro in connection with the transaction.

The Cravath team includes associates Adam M. Sanchez and Darien Pun on M&A matters; partners Michael S. Goldman and Craig F. Arcella on financing matters; partner Andrew W. Needham and associate Rebecca L. Fine on tax matters; partner Margaret T. Segall and senior attorney Jesse M. Weiss on antitrust matters; partner David J. Kappos and associate Rohan E. George on intellectual property matters; partner Matthew J. Bobby and associates Jana I. Hymowitz, Anna Mikaelyan and Dixing Tang on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Malikah I. Williams also worked on antitrust matters.