CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group, LLC (together with its affiliates, “Ancora” or we”) today issued the below statement regarding Hasbro, Inc.’s (NASDAQ: HAS) (“Hasbro” or the “Company”) announcement that it has initiated a sale process for its eOne TV and film business.
Fredrick D. DiSanto, Chairman and Chief Executive Officer of Ancora, and James Chadwick, President of Ancora Alternatives LLC, commented:
“As outlined in our May letter to Hasbro’s Board of Directors, divesting of eOne can improve the Company’s long-term positioning by enabling it to deleverage, reduce operational complexity and reinvest in core segments and high-quality brands with strong growth trajectories. We are encouraged by Hasbro’s decision to initiate a sale process that will be led by Chief Executive Officer Chris Cocks and supported by independent financial advisors. Our prior interaction with Mr. Cocks and other recent developments suggest to us that Hasbro is beginning to adopt investor feedback and pursue important strategic enhancements that can benefit shareholders, customers, employees and other partners over the long run.”
Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States. The firm's comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.