{"id":42266,"date":"2022-06-08T18:18:20","date_gmt":"2022-06-08T18:18:20","guid":{"rendered":"https:\/\/harchi90.com\/dungeons-dragons-maker-hasbro-wins-battle-against-activist-investor\/"},"modified":"2022-06-08T18:18:20","modified_gmt":"2022-06-08T18:18:20","slug":"dungeons-dragons-maker-hasbro-wins-battle-against-activist-investor","status":"publish","type":"post","link":"https:\/\/harchi90.com\/dungeons-dragons-maker-hasbro-wins-battle-against-activist-investor\/","title":{"rendered":"Dungeons & Dragons maker Hasbro wins battle against activist investor"},"content":{"rendered":"
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A Dungeons & Dragons classic dragon hand painted by Alan Cooley, 27, of Huntington Station, New York, at Main Street Game Cafe in Huntington on November 26, 2019.<\/p>\n

Newsday LLC | Newsday | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Hasbro has fended off a board challenge from an activist investor that wanted to shake up its board and spin off the toymaker’s lucrative division that includes Dungeons & Dragons.<\/p>\n

On Wednesday, the Rhode Island-based company said its shareholders voted to reelect its 13 directors by a “substantial margin,” according to preliminary vote tallies.<\/p>\n

“As the vote indicates, our highly skilled and recently refreshed board possesses experience and expertise directly relevant to overseeing Hasbro’s world-class portfolio of assets across multiple play and entertainment categories,” the company said in a statement Wednesday.<\/p>\n

The proxy battle was sparked by Alta Fox Capital Management, which owns a 2.5% stake in the company worth around $ 325 million. Alta Fox nominated five directors to the company’s board in February, but narrowed the slate down to one ahead of Wednesday’s vote.<\/p>\n

Alta Fox wanted to do away with Hasbro’s current “brand blueprint” strategy and suggested spinning off the company’s Wizards of the Coast and digital gaming business as part of a broader push to boost profitability in the company’s consumer products and entertainment divisions.<\/p>\n

Alta Fox told shareholders in February that the spinoff would increase Hasbro’s share value by $ 100. The toy giant refuted that claim, saying that separating Wizards of the Coast from its core business would be detrimental to both the division and the company as a whole.<\/p>\n

Hasbro’s strategy uses storytelling to drive toy sales. Under the late CEO Brian Goldner, the company successfully expanded beyond its core business into television, movies and digital gaming.<\/p>\n

It uses toy brands like Transformers and My Little Pony to fuel movies and television shows, which then propel toy sales. The company is currently producing a Dungeons & Dragons movie and television show through eOne. It has also used these brands for publishing, apparel and accessories.<\/p>\n

Hasbro shares were off less than 1% at 1:30 pm ET.<\/p>\n<\/div>\n<\/div>\n

.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Dungeons & Dragons classic dragon hand painted by Alan Cooley, 27, of Huntington Station, New York, at Main Street Game Cafe in Huntington on November 26, 2019. Newsday LLC | Newsday | Getty Images Hasbro has fended off a board challenge from an activist investor that wanted to shake up its board and spin …<\/p>\n

Dungeons & Dragons maker Hasbro wins battle against activist investor<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[171,116,118,14,18829,2939,1153],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107016518-1645058777060-gettyimages-1322860720-kimain191204_dungeons-269542.jpeg?v=1645058872&w=1920&h=1080","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/42266"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=42266"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/42266\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=42266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=42266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=42266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}