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Hasbro cuts revenue forecast as writers' strike to hit entertainment unit - CtrlF.XYZ

Hasbro cuts revenue forecast as writers' strike to hit entertainment unit

1 year ago 95

Hasbro Inc. Play-Doh marque modeling compound kits are displayed arsenic a idiosyncratic arranges a support astatine a Target Corp. determination successful Emeryville, California, U.S., connected Thursday, July 20, 2017.

David Paul Morris | Bloomberg | Getty Images

Hasbro lowered its full-year gross forecast connected Thursday arsenic its amusement segment, which includes eOne movie and TV studio, is expected to instrumentality a deed from the ongoing writers' and actors' strike.

The institution forecast fiscal 2023 gross would diminution 3% to 6%, compared with its erstwhile outlook of a low-single-digit decline, arsenic amusement conception gross is expected diminution betwixt 25% and 30%.

Separately, the toymaker said it would merchantability its eOne movie and TV workplace to Lionsgate Entertainment for astir $500 cardinal arsenic portion of its efforts to absorption connected much profitable brands.

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