The Dungeons and Dragons movie Honour Among Thieves was well received by wasn’t a cash cow. Long before the bean counters looked at the profits, purchasing the movie studio that made the film had challenged Hasbro.
D&D’s parent company bought eOne just before the pandemic lockdown, which was nightmare timing. The business is believed to be for sale.
Today, Deadline has the news that eOne will close theatrical operations in the UK. People will lose their jobs, part of the 1,000 positions Hasbro has slated to go.
Despite the lockdown being a thing of the past, cinema levels have not returned to normal, and the box office is down 30%. It’s not a great time for British cinema; a few US studios dominate the top movies.
At one point, eOne released three dozen films annually in the UK. Last year, eOne only managed to release four.
The challenges aren’t restricted to Hasbro and eOne. Cineworld’s cinema chain is still open but has filed for administration, is in debt and shares are suspended.
Deadline reports that Lionsgate is the frontrunner to buy eOne from Hasbro, but don’t say whether they’ll match the $4bn the games company paid just a few years back. The music business that eOne once had has already been sold to Blackstone.
Via Deadline.
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