Peppa Pig to get new owner as Hasbro eyes $4 billion purchase of parent company

PAWTUCKET, R.I. (WJAR) — Rhode Island-based company Hasbro made a mega deal on Thursday.

The toy company said it will acquire Entertainment One for $4 billion.

According to a Hasbro press release, Entertainment One is a global independent studio that specializes in the development, acquisition, production, financing, distribution, and sales of entertainment content.

Hasbro said the tentative agreement will add beloved preschool brands Peppa Pig and PJ Masks to the company. They will also expand their brand to gamers, fans, and families.

"The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro's portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro's IP," said Brian Goldner, Hasbro chairman and chief executive officer.

Hasbro said the tentative acquisition will advance the company's position as a leading global play and entertainment company.