Hasbro Toy Company has officially bought Death Row Records
Hasbro, the company that owns classic toys and games such as Mr. Potato Head, Monopoly, Furbies, My Little Pony, and more is now the owner of Death Row Records. The toy and Board Game Company acquired the infamous West Coast record label’s discography with the $4 billion purchase of Entertainment One.
7 years after Death Row filed for bankruptcy, eOne became the parent company of Death Row Records in 2013 when they bought the label’s entire catalog for about $280 million. The catalog that consisted of records from Snoop Dogg, Dr. Dre, Tupac, and many more.
In the 1990s Death Row was founded by Knight and Dr. Dre. The label helped launch the careers of Snoop Dogg, Nate Dogg and The Dogg Pound. Tupac Shakur was also a member of the label before he was tragically killed.
On April 4, 2006, Knight filed bankruptcy due to civil litigation against him in which Lydia Harris claimed to have been cheated out of a 50% stake in Death Row Records. Prior to filing, Knight had been ordered to pay US$107 million to Harris Under questioning by creditors, he denied having money tucked away in foreign countries or in an African company that deals in diamonds and gold.
Bankruptcy documents filed showed Knight had no income from employment or operation of a business. According to financial records, his bank account contained just US$12, and he owned clothing worth US$1,000, furniture and appliances valued at US$2,000, and jewelry worth US$25,000. He also testified that the last time he had checked the label’s financial records was at least 10 years prior.
Knight’s lawyer said that his client was still “at the helm” of Death Row and had been working on securing distribution deals for the label’s catalog. Harris told reporters she had received a US$1 million payment but had not agreed to settle the matter. “I’m telling you, I didn’t do a settlement for US$1 million. That’s ridiculous. Let’s keep it real,” she said.
The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling,” Hasbro CEO Brian Goldner said in a statement celebrating the purchase.
Brian Goldner, Hasbro chairman and chief executive officer, announced the purchase of Entertainment One (eOne), which owns Death Row Records. The deal was made over the summer, but now it’s officially done. The transaction is valued at approximately $3.8 billion.
In a press statement, Goldner said, “We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition. Our businesses are highly complementary with substantial synergies and a great cultural fit.
eOne is one of the largest independent labels in the music industry. Rolling Stone reports that the label earned more than $30 million in revenue in the first quarter of 2019.