Disney Won’t Swallow Up Hasbro After All
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By now nearly everyone is well aware that Disney spent 4 billion dollars to buy Lucasfilm with an eye on churning out a new trilogy of Star Wars film, starting in 2015. In the wake of that news, rumors started circulating the House of Mouse was going to swallow up yet another source of many of your beloved childhood institutions. Speculation arose that Disney was about to buy Hasbro, reports that have now been effectively quashed.
Checking in on what would be Disney’s second blockbuster deal involving the exchange of billions of dollars in the span of a week, CNBC financial analyst David Faber had a powwow with some folks who would know the truth. Regarding Disney and Hasbro, there is reportedly “absolutely nothing going on that they are aware of at all, in any way, shape or form.”
That’s a rather definitive statement, one that makes a fair amount of sense. After spending that much money, Disney probably doesn’t have a whole lot of capital just laying around with nothing else to spend it on. There is also the issue of rights and deals that Hasbro has with other studios, including Disney competitors. That would take time, effort, and even more cash.
Among other properties, the Pawtucket, Rhode Island-based toy manufacturer owns Monopoly, G.I. Joe, Hungry Hungry Hippos, and something called Transformers. You may have heard of that last one, I hear it involves giant talking robots. Hasbro also currently owns Lazer Tag. You wouldn’t sell that one either, would you?
The rumors fueled fluctuation in Hasbro’s stock price over the past few days, which ultimately ended up a gain for shareholders.
