Lions Gate Entertainment, Inc. and Lions Gate International Motion Pictures S.à.r.l. has signed an agreement to acquire Film and TV business of Entertainment One Ltd. for $500 million on August 3, 2023. Consideration consisting of $375 million in cash, subject to certain purchase price adjustments, and the assumption by Lionsgate of production financing loans. The transaction has been approved by both companies? Boards of Directors, approved by Entertainment One Canada Limited?s Board of Directors and remains subject to customary closing conditions, including the receipt of regulatory approvals. The agreement is subject to Hart-Scott-Rodino approval and customary closing conditions. Hasbro will use the proceeds to retire a minimum of $400 million of floating rate debt by the end of the year, and for other general corporate purposes. The transaction is expected to close by the end of 2023. J.P. Morgan and Centerview Partners served as lead financial advisors to Hasbro in the transaction. Cravath, Swaine & Moore LLP, Rebecca Bothamley, Christopher Fisher, Emily Nash, Robert Patterson-Walters, Andrea Pomana, Miles Robinson, Kitty Swanson and Oliver Yaros of Mayer Brown International LLP and Stikeman Elliott LLP are acting as legal counsel to Hasbro and Osler, Hoskin & Harcourt LLP are acting as legal counsel to Entertainment One Canada Limited. Jefferies Financial Group Inc. (NYSE:JEF) and Ernst & Young Orenda Corporate Finance Inc. acted as financial advisor to Lionsgate. Dentons Canada LLP and Ernst & Young Orenda Corporate Finance Inc. acted as legala dvsior to Lionsgate on the transaction.

Lions Gate Entertainment, Inc. and Lions Gate International Motion Pictures S.à.r.l. completed the acquisition of Film and TV business of Entertainment One Ltd. on December 27, 2023.