Hasbro might be known for their toylines, but they’re now breaking into the music industry — specifically, the gangster rap genre, having recently acquired the Death Row Records label as part of a $4 billion deal.
The new acquisition actually comes from a $4 billion deal to buy Entertainment One, also known as eOne, which is behind popular children’s franchises like Peppa Pig and PJ Masks. The company also owns a music division that contains the aforementioned rap label, which was created by Suge Knight, The D.O.C. and Dr. Dre back in 1991, and features the work of stars like Tupac Shakur and Snoop Dogg.
The rap label filed for bankruptcy back in 2006 and has changed hands multiple times, ending up with Entertainment One as part of a $280 million deal back in 2013. According to Rolling Stone, it took in over $30 million in revenue in this year’s first quarter.
Hasbro CEO Brian Goldner released the following statement over the deal on Hasbro’s official news website:
“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP.
“In addition, Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally and realize full franchise economics across our blueprint strategy for shareholders. We are excited to welcome eOne’s talented employees from around the world into the Hasbro family.”
For eOne’s part, chief executive officer Darren Throop issued the following, according to the same press release:
“Hasbro’s portfolio of integrated toy, game and consumer products, will further fuel the tremendous success we’ve achieved at eOne.”
“There’s a strong cultural fit between our two companies; eOne’s stated mission is to unlock the power and value of creativity which aligns with Hasbro’s corporate objectives. eOne teams will continue to do what they do best, bolstered by the access to Hasbro’s extensive portfolio of richly creative IP and merchandising strength. In addition, the resulting expanded Hasbro presence in Canada through eOne’s deep roots will bring world class talent and production capabilities to Hasbro. Along with our leadership team, I look forward to working with Hasbro on our joint growth and success for many years to come.”