Following Hasbro's purchase of eOne Music, including Death Row Records, the company is changing hands once more in a massive cash deal.
In late 2019, Hasbro made a massive manoeuver with the purchase of Entertainment One for a reported sum of $3.8B. Following the news, many were quick to point out the humor behind legendary hip-hop label Death Row, the former home of 2Pac Shakur, Dr. Dre, and Snoop Dogg, being owned by a toy company.
Now, it would appear that Death Row, as well as every other artist and property under the eOne Music banner, are undergoing yet another relocation. A new report indicates that Hasbro is selling eOne Music to equity firm Blackstone (or rather, "entities controlled by Blackstone," as per Deadline) for a cash deal of $385 million. Once the deal is finalized later this year, eOne will continue to operate under the current President Chris Taylor.
Speaking on the sale, Hasbro CEO Brian Goldner opened up about the rationale behind it: “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 purposeâled play and entertainment company. On behalf of the Board and Hasbro management, I want to recognize the strong leadership of Chris Taylor and the entire eOne Music organization."
In addition to Death Row Records, eOne is also home to several prominent acts and artists, including The Lumineers, Snoop Dogg, and the Wu-Tang Clan. Keep an eye out for more music industry developments as they surface.