Hasbro is still committed to selling off Entertainment One (eOne), according to CEO Chris Cocks, who provided a rough timeline to investors following the tabling of the toy giant’s fourth-quarter earnings report.

“Our sales process for the majority of eOne film and TV is well underway with strong interest in these valuable assets,” Cocks said on an investor call on Thursday (Feb. 16). “We expect to have an update in the second quarter.”

The company had initially informed investors of the plan to sell the majority of eOne’s assets late last year.

L.A.-based Hasbro purchased the Canadian film and television production company in 2019 for US$4 billion, with the belief at the time that then-CEO Brian Goldner was looking to turn the toy manufacturer into a Marvel Studios-esque content powerhouse.

Goldner, who died of cancer in late 2021, was succeeded by Cocks, who said the company will refocus on its core games and toy brands like Dungeons & Dragons, Magic: The Gathering and Transformers.

“Our focus on content is centering around Hasbro IP for the long term,” Cocks told investors.

Under the potential sale, Hasbro would retain certain eOne IP that aligns with its broader strategy, like the Peppa Pig (pictured) children’s franchise. Among the eOne assets that are on the table are the production company’s catalog of over 6,500 film and TV titles, including unscripted brands like Naked and Afraid, and scripted series Yellowjackets and The Rookie.

Last week Hasbro reported a disappointing holiday quarter of US$1.67 billion in net revenue for Q4, down by 17% compared to the same period last year.

The company also reported its full-year total net revenue at US$5.86 billion, down 9% compared to 2021.

In announcing its preliminary Q4 results last month, Hasbro discussed plans to eliminate 1,000 full-time positions and restructure its leadership framework to help reach its goal of US$250 million to US$300 million in annual run-rate cost savings by 2025.

This story originally appeared in Realscreen

With files from Kidscreen