Aug 23, 2019 - Economy & Business

Hasbro agrees to buy Peppa Pig studio Entertainment One for $4 billion

Dan Primack, author of Pro Rata

Peppa Pig characters. Photo: Tristan Fewings/Getty Images

Hasbro agreed to buy Entertainment One, the studio behind children's TV show "Peppa Pig," for around $4 billion.

Why it matters: This one could become a real muddy puddle. Hasbro's £5.60 per share represents a 26% premium to Thursday's closing price, but shares subsequently climbed even higher — with some investors and analysts expecting that a content company will try to top the toymaker.

  • Entertainment One snorted at a £1 billion takeover offer in 2016 from British broadcaster ITV.

The bottom line: Hasbro has long desired to own an entertainment company, but to date has settled for licensing popular IP. They did try to work out a deal with Dreamworks in 2014. The question now is if this deal is mostly about bringing a popular international brand in-house, or also about standing up a major TV and film production business.

Go deeper: Toymakers say Trump's China tariff delay "saved the holiday season"

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Axios
Updated 22 mins ago - Politics & Policy

Pence no longer expected at Amy Coney Barrett's final confirmation vote

Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images

Vice President Mike Pence no longer plans to attend the Senate's final confirmation vote for Judge Amy Coney Barrett on Monday, following Senate Democrats' claims that his presence after possible exposure to the coronavirus would be a "violation of common decency," a Pence aide confirmed to CNN and Politico on Monday.

Driving the news: Five of Pence's aides were recently diagnosed with COVID-19, including his chief of staff, who is currently quarantining. Pence has continued his campaign travel despite his possible exposure, which goes against CDC guidelines.

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Axios
Updated 25 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Ex-FDA chief: Pence campaigning after exposure puts others at risk — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.
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Dion Rabouin, author of Markets
5 hours ago - Economy & Business

Bond investors see brighter days

Illustration: Sarah Grillo/Axios

U.S. government bonds could breakout further after yields on the benchmark 10-year Treasury note ticked up to their highest since early June last week.

But, but, but: Strategists say this move is about an improving outlook for economic growth rather than just inflation.

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