Toy giant Hasbro has sold one of Ireland’s biggest animation studios, Boulder Media, to Australian company Princess Pictures.
Dublin-based Boulder Media’s animation portfolio includes work on Hasbro’s Transformers and My little Pony franchises as well as TV shows such as Go-Jetters and Danger Mouse.
New accounts for multi-award-winning Boulder Media show it declared three dividends last month with a cumulative total of 8.7 million euros before the Princess Pictures sale closed on October 17.
Commenting on the deal, Boulder Media chief executive Jenni MacNeaney told US entertainment industry online publication Deadline, “This synergistic relationship opens up unique opportunities for our future roster and allows us to ‘amplify our creative offer on the market’.
“This is an exciting step in building the Boulder brand, one that values the great work we have produced over the past 22 years, while setting us up for future success.”
Hasbro bought Boulder Media in 2016 and last year Boulder Media saw a 22% drop in pre-tax profits to $2 million.
Revenues fell sharply by 38%, from €28.18m to €17.54m
Last year, the workforce fell from 326 to 195.
Boulder directors said they were satisfied with the company’s performance for 2021 and “are confident that the business will continue to be profitable in the future”.