(MENAFN - Baystreet.ca) American toymaker Hasbro Inc. (NASDAQ:HAS) is buying Canadian media company Entertainment One Ltd. for $4 billion U.S. in cash.
The deal gives Hasbro access to popular preschool television programs such as Peppa Pig and PJ Masks. It also gives the Nerf and Power Rangers toy-maker more exposure in its content media push, where it has been buying smaller firms and tying up with major movie studios to boost sales of toys linked to movie and TV franchises.
In 2018, Hasbro spent $520 million U.S. to add children's entertainment and merchandising franchises, including the characters of the superhero TV show Power Rangers. Hasbro has also linked up with Paramount Pictures and Walt Disney and has seen growth with Marvel's Avengers toys.
Peppa Pig, which brings in the bulk of revenue at Entertainment One, is a popular show that is streamed on several platforms and has been grabbing more sales with the growing popularity of its toys and merchandise. The deal is expected to close in the fourth quarter of this year.