Death Row Records will have a new owner after toy conglomerate Hasbro sold Entertainment One's music unit in a cash deal worth $385 million. An equity firm named Blackstone now owns all musical artists and properties under eOne's banner, including the former label for 2Pac, Dr. Dre, and Snoop Dogg.
"This transaction will ensure that eOne Music is well-positioned to unlock great opportunities for its many talented artists and partners, as Hasbro continues to focus on the core strategic elements of our Brand Blueprint to further strengthen our position as a purpose-led play and entertainment company," said Hasbro CEO Brian Goldner. "On behalf of the Board and Hasbro management, I want to recognize the strong leadership of Chris Taylor and the entire eOne Music organization."
Once the deal is finalized later this year, eOne will continue to operate under the leadership of the current president, Chris Taylor. In addition to Death Row, eOne's roster includes Snoop Dogg, The Game, Brandy, Chuck Berry, En Vogue, and the Wu-Tang Clan. Blackstone also owns the performing rights organization SESAC.
Hasbro acquired eOne for $4 billion in 2019. The toy company said it intends to use the proceeds from the deal to pay down debt and other general corporate purposes. The deal is expected to close in the second or third quarter of 2021.
Source: Variety
