Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Boris Johnson speech criticised by City experts over Peppa Pig reference - as it was bought by US firm amid Brexit fears

Boris Johnson speech criticised by City experts over Peppa Pig reference - as it was bought by US firm amid Brexit fears

Peppa Pig's parent company Entertainment One was bought by US giant Hasbro, which owns My Little Pony and Play-Doh, in the summer of 2019.


City experts have criticised Boris Johnson's speech about Peppa Pig over suggestions it was bought by a US company at the height of Brexit uncertainty.

In his speech to the Confederation of British Industry (CBI) on Monday, Boris Johnson praised the cartoon for demonstrating "the power of UK creativity".

"Peppa Pig World is very much my kind of place," he told business leaders - in reference to a visit to the Hampshire theme park he made with his wife and youngest son the day before.

He applauded the cartoon franchise for being "exported to 180 countries", including amusement parks in the US and China.

But despite being the brainchild of three independent British animators, Neville Astley, Mark Baker and Phil Davies, its Canadian parent company Entertainment One was sold to US giant Hasbro in 2019.

In March this year, the Astley Baker Davies studio also announced they would no longer be producing the show, which has been guaranteed until 2027.

The acquisition of Peppa Pig by Hasbro, which owns My Little Pony and Play-Doh, was the biggest in its history.

It paid £3.3bn for the takeover - three times the £1bn offer ITV made Entertainment One in the immediate aftermath of the Brexit vote in mid-2016.

The Hasbro purchase came in August 2019, two months after Mr Johnson became prime minister, when the pound fell by record levels amid Brexit uncertainty.

Merlin Entertainments, which set up in Scotland in 1979 and runs three Peppa Pig World of Play parks in the US, was also bought by a consortium of overseas owners, including the Danish owners of Lego, at that time.

Mr Johnson was pictured at Peppa Pig World in Hampshire where he visited with his wife and son on Sunday


City experts have previously commented that several overseas takeovers of UK companies, including Greene King and Just Eat, were partly driven by Mr Johnson entering Downing Street and fears of a no-deal Brexit.

"The post-Brexit weakness of the pound has been an attraction to overseas business," Russ Mould, investment director at AJ Bell, told Sky News.

Commenting on the PM's reference to Peppa Pig, which was described as "shambolic" by Labour, he said: "It was owned by a Canadian company, which has been bought by a US giant. Those are the facts.

"There's no doubt the UK has a phenomenal record in the creative industries - but it probably wasn't the example he would use given the chance again."

Robert Haigh, strategy and insights director at Brand Finance, also commented on the "inability of the UK to scale its intellectual property-based businesses".

"You could say we have the capacity to develop world-challenging brands that are loved across the globe, particularly in the media and creative industries, but don't seem to be able to scale them onto a world-beating level," he said.

Commenting on the effect of the 2019 fears of a no-deal, he added: "I think it's pretty unarguable that the drop in value of the pound made UK assets attractive to acquire.

"And Boris Johnson's political decision to push ahead with Brexit will have impacted that to some extent."

But he said: "On the other hand, you could argue it's created more of a market attraction to the UK as a place where real quality brands are nurtured, bolstering its reputation."

Since Astley Baker Davies stepped down this year, Peppa Pig has been produced by Karrot Entertainment - the creators of the BBC children's programme Sarah and Duck.

Previously it was co-produced between the UK and Canada.

A Downing Street spokesman said of Mr Johnson's speech: "He's given hundreds of speeches. I don't think it's unusual for people on rare occasions to lose their place."

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
Italy Faces Population Decline Amid Youth Emigration
Trump Accuses China of Violating Trade Agreement
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Russia Accuses Serbia of Supplying Arms to Ukraine
Gerry Adams Wins Libel Case Against BBC
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
EU Majority Demands Hungary Reverse Anti-LGBTQ+ Laws
Top Hotel Picks for 2025 Stays in Budapest Revealed
Iron Maiden Unveils 2025 Tour Setlist in Budapest
Chinese Film Week Opens in Budapest to Promote Cultural Exchange
Budapest Airport Launches Direct Flights to Shymkent
Von der Leyen Denies Urging EU Officials to Skip Budapest Pride
Alcaraz and Sinner Advance with Convincing Wins at Roland Garros
EU Ministers Lack Consensus on Sanctioning Hungary Over Rule of Law
EU Nations Urge Action Against Hungary's Pride Parade Ban
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
U.S. Considers Withdrawing Troops from Europe
Russia Deploys Motorbike Squads in Ukraine Conflict
Critics Accuse European Court of Human Rights of Overreach
Spain Proposes 100% Tax on Non-EU Holiday Home Purchases
German Intelligence Labels AfD as Far-Right Extremist
Geert Wilders Threatens Dutch Coalition Over Migration Policy
Hungary Faces Multiple Challenges Amid EU Tensions and Political Shifts
Denmark Increases Retirement Age to 70, Setting a European Precedent
Any trade deal with US must be based on respect not threats', says EU commissioner
UK Leads in Remote Work Adoption, Averaging 1.8 Days a Week
Thirteen Killed in Russian Attacks Across Ukraine
High-Profile Incidents and Political Developments Dominate Global News
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Ukraine and Russia Conduct Largest Prisoner Exchange of the War
×