Lions Gate Is Close to a Deal for Hasbro’s TV Business

Lions Gate Entertainment Corp. has agreed to buy the EOne film and TV studio from toymaker Hasbro Inc. for $375 million in cash plus the assumption of loans.

Hasbro will use proceeds from the deal, valued at $500 million including loans, to pay down debt, the company said in a statement on Thursday, confirming an earlier Bloomberg report. The largest US toymaker separately reported second-quarter revenue of $1.21 billion, beating Wall Street’s expectations. Shares were up 4.1% at 10:05 a.m. in New York.