Hasbro completes $385M sale of eOne Music business

HASBRO'S shares soared Monday after the toymaker reported better-than-expected second quarter results. / COURTESY HASBRO INC.
PROVIDENCE – Hasbro Inc. has completed a sale of Entertainment One Music for $385 million in cash to private equity firm Blackstone Group Inc., the company announced Wednesday. The business had been acquired as part of Hasbro’s multibillion acquisition of Entertainment One Ltd. Hasbro said it will use the proceeds from the sale to accelerate…

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