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Hasbro Will Open Its First Theme Park in Canada
Toy giant Hasbro recently announced that it will open the first branded theme park in Canada -- Galaxyland powered by Hasbro.
The theme park is located in West Edmonton Mall, Edmonton, Alberta, Canada. According to the agreement, Hasbro will cooperate with Galaxyland, North America's largest indoor amusement park to transform it into a gathering place for fans of Hasbro's licensed brands.
Galaxyland occupies an area of about 165,000 square feet. After the renovation is completed, brand theme activities such as My Little Pony, Mr. Potato, Monopoly, GI Joe, Nerf Heat, and Play-Doh will be launched in 25 games and attractions. Moreover, Hasbro retail stores and theme restaurants will be available.
The theme park is expected to open in the winter of 2020.
Hasbro completed acquisition of eOne, Peppa Pig officially changes owner
Transformers and My Little Pony are officially a family with Peppa Pig and PJ Masks. After passing the usual regulatory hurdles, Hasbro completed the previously announced acquisition of Entertainment One Ltd. (eOne). The cash transaction is valued at approximately $ 3.8 billion.
On August 22 this year, the US toy maker Hasbro announced the acquisition of Canadian entertainment company eOne for about $ 7.4 per share. The company's most famous IPs are "Peppa Pig" and "PJ Masks", of which Peppa Pig brings about $ 110 million in revenue to eOne in fiscal 2019 alone. After the acquisition is completed, Hasbro will own all the animation IPs under eOne, including animation film and television, game production, peripheral development, and so on.
After the acquisition of eOne, Hasbro will continue to work on the development of film and television IP. According to Deadline, eOne President Steve Bertram will continue to be responsible for eOne's film and television business, and will also take over Hasbro's core IP for film and TV live program development, including the partnership with Paramount.
In a speech, Brian Goldner, Chairman and CEO of Hasbro, expressed his future plans after the acquisition of eOne by Hasbro. "We are excited about working together and witnessing the tremendous business opportunities brought about by the acquisition to the shareholders. Our businesses are highly complementary, with substantial synergies and good cultural fit. The addition of eOne has accelerated Hasbro's blueprint strategy and expanded our relationship with eOne. The brand portfolio of the beloved global preschool brand adds proven TV and film expertise and creates more opportunities for long-term profitable growth. We are excited to welcome the very talented eOne team to Hasbro. "
Hasbro recently suffered some setbacks in the third quarter as the company faced intermittent threats to impose tariffs on toys. The tariff, which was originally scheduled to take effect on December 15, was eventually cancelled, which is a positive factor for its future development.