Hasbro Sells EOne TV Studio to Lions Gate, Beats on Revenue (2)

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.

With the purchase, Santa Monica, California-based Lions Gate stands to gain a library of about 6,500 ...