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Message: <blockquote data-quote="Ellorghast" data-source="post: 9221062" data-attributes="member: 7043938">Yeah, pretty much.With regards to whether selling off eOne was a good idea or not, I don't think we really have the data to make that judgement. However, my gut is that selling it off now is actually reasonable and that the mistake was buying it when they did, for what they paid for it, in the first place. Hasbro acquired eOne in Q3 2019, which was right at the peak of the demand for streaming content. (For reference, Disney+ went live about two months later.) If you assume that environment's going to continue indefinitely, then buying an entertainment company makes a lot of sense, but at the same time, it means you're probably going to pay a premium for it. However, right after that, COVID hit, which shut down both production and theatrical distribution. Then, not too long after you get through that, Netflix posts a quarterly subscriber loss, and suddenly investors actually care about how much streamers are spending on content. Purse strings tighten, and suddenly acquiring eOne looks like it might have been a mistake. Honor Among Thieves underperforming can't have helped either. So, Hasbro decides to sell rather than keep carrying eOne as an albatross around the company's neck, but they can't get what they paid for it anymore because the market's changed, and I don't think waiting a year or two is likely to have meaningfully made a difference there. Hence, a write-down of half a billion dollars.</blockquote>

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