[ Hasbro fell short of Wall Street analysts’ consensus estimate for fourth-quarter earnings, blaming a 31% drop in 2023 entertainment revenue on the WGA and SAG-AFTRA strikes. The toymaker also disappointed the Street with its 2024 outlook, particularly an expected 7% to 12% drop in consumer products sales, a category that typically accounts for more … Read more
[ Lionsgate CEO Jon Feltheimer expressed an optimistic view of the movie business – at least the way it is approached by his cost-conscious executive team. During a conference call with Wall Street analysts to discuss the forthcoming split of the company’s film and TV operations from Starz, Feltheimer said the key is to avoid … Read more
[ Lionsgate said today its acquisition of global entertainment platform eOne from Hasbro is done. The transaction announced last August adds 6,500 film and television titles to Lionsgate’s large library; diversifies and strengthens its scripted and unscripted television businesses; extends its portfolio of brands and franchises; and expands its presence in Canada and the UK. … Read more
[ Giant toymaker Hasbro is laying off 1,100 employees, following 800 staff cuts announced earlier this year, as CEO Chris Cocks cited a tough business climate that’s been slow to recover. That’s about 20% of the company’s global workforce. “The market headwinds we anticipated have proven to be stronger and more persistent than planned. While we’re … Read more
