Hasbro Inc.
Hasbro to Lay Off 1,000 Staffers, 15 Percent of Workforce, Amid Cost-Savings Push
The toy and entertainment giant Hasbro says that it will cut its workforce by 15 percent, or 1,000 employees, in the coming weeks. The significant layoffs are part of a larger restructuring and cost-savings effort underway, with the company having already put its TV and film division Entertainment One up for sale. “We are focused […]
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Entertainment One CEO Darren Throop to Step Down
Darren Throop, president and CEO of Hasbro’s Entertainment One division, is set to step down at the end of 2022. Throop’s current contract runs to the end of the year, and follows Hasbro acquiring eOne in 2019 as part of a $4 billion all-cash transaction. At the time, Hasbro looked to the eOne deal to […]
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Hasbro Wins Proxy Battle Against Activist Investor Alta Fox
Hasbro has prevailed in a boardroom proxy battle against activist investor Alta Fox Management by seeing all 13 of its directors re-elected during its 2022 annual shareholders meeting on Wednesday. “Hasbro’s board of directors would like to thank our shareholders for their continued support and engagement, as well as the invaluable views and perspectives they […]
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Amid Proxy Battle, Hasbro Board Says $4B eOne Studio Buy Timing Was “Unfortunate”
Amid an ongoing proxy battle with activist investor Alta Fox Capital Management, Hasbro’s board of directors has taken a swipe at the toy maker’s push into original entertainment content with the purchase of the Peppa Pig studio Entertainment One in 2019. Activist investor Alta Fox has urged Hasbro to spin off its gaming division to unlock […]
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Hasbro Rolls the Dice on ‘Dungeons & Dragons’ Expansion in Film, TV and Games
Hasbro CEO Chris Cocks outlined why he sees the toy giant and Entertainment One owner becoming a digital gaming powerhouse amid an ongoing proxy battle with an activist investor, Alta Fox Capital Management. On Tuesday, after the toy giant released its first-quarter financial results, the executive told Wall Street analysts during a morning call that […]
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Hasbro Buys D&D Beyond for $146.3M in Gaming Expansion
Hasbro has purchased D&D Beyond, a digital toolset for players of the toy giant’s Dungeons & Dragons fantasy franchise, from Fandom for $146.3 million in cash. D&D Beyond, which boasts nearly 10 million users, will be absorbed into Hasbro’s Wizards of the Coast division, which controls Dungeons & Dragons as well as other tabletop and […]
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Hasbro CEO Signals Renewed Focus on Gaming Amid Proxy Battle
Newly-installed Hasbro CEO Chris Cocks has detailed the toy giant’s stepped-up drive towards becoming a gaming powerhouse amid an on-going proxy battle with activist investor Alta Fox Capital Management. “Make no mistake, Hasbro is a games company. In 2021, games was a $2.1 billion business growing at 19 percent with an operating profit margin of […]
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Hasbro Activist Investor Calls for ‘Wizards of the Coast’ Spinoff
A Hasbro activist investor, Alta Fox Capital Management, has unveiled an investor presentation that nominates five candidates to stand for election to the toy maker’s board of directors and urges a spin-off of the lucrative Wizards of the Coast division. “Hasbro engages in regular communication with its shareholders and welcomes constructive input to further the […]
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Hasbro Mulls Whether to Offload Discovery Family Channel Stake
Toy maker Hasbro is “evaluating” whether to offload its 40 percent stake in Discovery Family Channel. The branded Discovery TV channel is 60 percent owned by Discovery, with Hasbro having held 40 percent since 2014. On Monday, as Hasbro released its fourth quarter earnings, the toy maker recorded a $41.3 million net non-cash, non-operating charge […]
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Mattel Stock Soars After Regaining License to Make ‘Frozen,’ Disney Princess Toys
Stock in Mattel has risen sharply after the toymaker said it had regained the global license for toys based on Walt Disney’s Princess lineup. “We are incredibly proud to welcome back the Disney Princess and Frozen lines to Mattel,” Mattel president and COO Richard Dickson, said in a statement on Wednesday. The Disney Princess toy […]
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Hasbro Promotes Chris Cocks to CEO
Hasbro has named Chris Cocks to succeed the late Brian Goldner as CEO of the toymaker giant. The executive is being promoted from his current role as president and COO of Hasbro’s Wizards of the Coast and digital gaming divisions, and also succeeds interim CEO Rich Stoddart, who stepped into the role after Goldner died […]
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Hasbro Developing 30 Brands For Film/TV to “Supercharge” Entertainment Strategy
Following the death of its longtime CEO Brian Goldner earlier this month, toy and entertainment company Hasbro says it plans to lean even further into Goldner’s strategy of turning the company into a power player in entertainment and games. Speaking on the company’s third quarter earnings call Tuesday morning, interim CEO Rich Stoddart mourned Goldner, […]
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