eOne is shutting down its U.K. theatrical distribution business, owner Hasbro confirmed to TheWrap.
Hasbro acquired eOne for $3.8 billion in late December 2019. The studio’s theatrical exhibition in the U.K. produced hits like “The Aeronauts” and “Sorry We Missed You,” and early 2020 saw the towering $57 million U.K. gross (out of $359 million worldwide) of Sam Mendes’ acclaimed World War I thriller “1917.”
However, cost-cutting began in 2021, with 10% of eOne’s film and television staff being laid off. They sold their music division to The Blackstone Group for $385 million.
Hasbro was selling off its media assets by August of 2022 and by November had put eOne on the auction block. As recently as this week, Lionsgate has emerged as a prime contender to buy the studio. Meanwhile, Hasbro laid off an additional 20% of eOne’s employees just under a month ago.
eOne has released three theatricals in the U.K. in 2023, namely Steven Spielberg’s “The Fabelmans,” “Dungeons and Dragons: Honor Among Thieves” and “The Unlikely Pilgrimage of Harold Fry.”
Deadline was the first to report the news.
