Hasbro
Q2 2023 Earnings Call
Aug 03, 2023, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning and welcome to Hasbro's second quarter 2023 earnings conference call. At this time all parties will be in listen-only mode. [Operator instructions]. Today's conference is being recorded.
If you have any objections, you may disconnect at this time. At this time, I'd like to turn the call over to Ms. Kristen Levy, senior manager, investor relations. Please go ahead.
Kristen Levy -- Senior Manager, Investor Relations
Thank you and good morning, everyone. Joining me today are Chris Cocks, Hasbro's chief executive officer; and Gina Goetter, Hasbro's chief financial officer. Today, we will begin with Chris and Gina providing commentary on the company's performance. Then we will take your questions.
Our earnings release and presentation slides for today's call are posted on our investor website. The press release and presentation include information regarding non-GAAP adjustments and non-GAAP financial measures. Our call today will discuss certain adjusted measures, which exclude these non-GAAP adjustments. A reconciliation of GAAP to non-GAAP measures is included in the press release and presentation.
Please note that whenever we discuss earnings per share or EPS, we are referring to earnings per diluted share. Before we begin, I would like to remind you that during this call and the question-and-answer session that follows, members of Hasbro management may make forward-looking statements concerning management's expectations, goals, objectives and similar matters. There are many factors that could cause actual results or events to differ materially from the anticipated results or other expectations expressed in these forward-looking statements. These factors include those set forth in our annual report on Form 10-K, our most recent 10-Q in today's press release and in our other public disclosures.
Today's guidance assumes we retain the non-core Entertainment Film and TV Business, notwithstanding the agreement we just entered into with Lionsgate to sell this business. That transaction is subject to customary closing condition and regulatory approvals. Following closing of that transaction, we plan to update our guidance. We undertake no obligation to update any forward-looking statements made today to reflect events or circumstances occurring after the date of this call.
I would now like to introduce Chris Cocks, Chris.
Chris Cocks -- Chief Executive Officer
Thanks, Kristen and good morning. Today I am pleased to announce that Hasbro has entered into a definitive agreement to sell our eOne Film and TV business to Lionsgate for approximately $500 million, consisting of cash of $375 million and the assumption of production financing loans. This purchase will include a team of talented employees, a content library of nearly 6,500 titles, active productions for non-Hasbro owned IP like The Rookie, Yellowjackets and Naked and Afraid franchises, eOne's Canadian Film & TV operations, and the eOne unscripted business, which will include rights for producing Hasbro-based shows like Play-Doh Squished. We expect the transaction to complete by the end of 2023.