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Subsequent Event | 3 Months Ended
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Mar. 28, 2021
Subsequent Events [Abstract] |
Subsequent Event | Subsequent EventOn April 25, 2021, the Company entered into a definitive agreement to sell the eOne music business for an aggregate sales prices of $385 million. Based on the value allocated to the music assets at the time of the eOne Acquisition, the Company expects to record an estimated pre-tax non-cash impairment loss of $125 million to $135 million, inclusive of transaction expenses. The loss will be determined and recorded in the second quarter of 2021. The transaction is expected to close late in the second quarter or early in the third quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions. The Company intends to use the net proceeds from the sale to accelerate deleveraging and other general corporate purposes.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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