Hasbro Nabs Saban's 'Power Rangers' Brand for $522 Million
Toy maker Hasbro has inked a deal with Saban Properties to acquire Power Rangers and a host of other entertainment brands as part of a cash and stock deal valued at $522 million.
Hasbro also picked up the My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives properties, among others. The toy maker will pay Saban $229.75 million in cash and issue $270 million worth of common stock for the Power Rangers brand and other entertainment brands, as both companies build on an earlier master toy agreement.
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In February 2018, Hasbro was named the master toy licensee for Saban’s Power Rangers, with an eye on bringing to market a host of toys and role-play items inspired by the long-running TV and movie series.
"Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s brand blueprint,” Brian Goldner, Hasbro’s chairman and CEO, said in a statement.
"25 years after launching Power Rangers, I believe the future for this brand has never been greater,” added media mogul Haim Saban, founder of Saban Brands and creator of Power Rangers, in his own statement.
Created by Saban and launched in 1993, Mighty Morphin Power Rangers gained a cult following as a long-running, live-action kids TV series. The franchise also included a 2017 movie with Lionsgate.
Hasbro, as it branches into film and TV production, recently announced that Ready Player One scribe Zak Penn is set to adapt the Rom toy turned comic book universe into a movie for Hasbro's Allspark Pictures and Paramount.
by Sheraz Farooqi
by Graeme McMillan