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EntertainmentOne posts £44mln loss ahead of Hasbro acquisition

EntertainmentOne is set to be acquired by Hasbro in a £3.3bn all-cash transaction on Thursday

Entertainment One -

Less than one week away from its planned acquisition by Hasbro Inc, Entertainment One Group (LON:ETO) posted a £44mln quarterly loss because of lower revenues and higher costs.

The Peppa Pig owner is set to be gobbled up in a £3.3bn all-cash transaction on Thursday 17 October after the deal was accepted by the FTSE 250 group’s shareholders.

READ: Peppa Pig owner Entertainment One snapped up by Hasbro in £3.3bn deal

Losses before tax rose sixfold in the three months until 30 June as revenues slipped 7% to £173.1mln because of lower broadcast and licensing revenues due to fewer scripted projects in the period.

EOne said this was “partly offset by higher music revenue” from its £178.8mln acquisition of music publisher Audio Network in April.

Shares were slightly down at 561.5p in early trading on Friday, after soaring to highs of 585p in August.

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Market: AIM
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