The Canadian entertainment company that produces children's television favourite Peppa Pig has gone to market, with a US toy maker paying $US4 billion ($5.92 billion) for the business.

Key points: Hasbro said the purchase of Entertainment One would help turn more of its toy brands into TV shows and movies

Hasbro said the purchase of Entertainment One would help turn more of its toy brands into TV shows and movies Entertainment One purchased a 70 per cent stake in the UK animation studio that produces Peppa Pig in 2015

Entertainment One purchased a 70 per cent stake in the UK animation studio that produces Peppa Pig in 2015 Hasbro will also acquire film and music content licensed to the company, which reportedly includes Death Row Records' catalogue

Hasbro, the maker of Monopoly and GI Joe, said its purchase of Entertainment One would help turn more of its toy brands into television shows and movies.

Many of its brands, including My Little Pony, Transformers and Power Rangers, are already the subject of major television and film franchises.

Entertainment One also produces other animated shows for children, including the popular British and French series PJ Masks, as well as the Nickelodeon program Ricky Zoom.

The Canadian entertainment company purchased a 70 per cent stake in the British animation studio that produced Peppa Pig, Astley Baker Davies, in 2015.

Peppa Pig, which stars a pink cartoon pig with a British accent, is translated into more than 40 languages worldwide and is shown on ABC TV and ABC iview.

Hasbro will also acquire film and music content licensed to Entertainment One in the deal, which reportedly includes Death Row Records' catalogue featuring hip hop artists Snoop Dogg, Tupac Shakur and Dr Dre.

"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, which will now include Hasbro's intellectual property," Hasbro chairman and chief executive officer Brian Goldner said.

The deal is expected to close before the end of the year.

AP