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Hasbro Inc. and Saban Properties LLC announced on Tuesday that the toymaker will acquire Saban’s entertainment brands, which includes Power Rangers along with My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives.
The key, however, is the Power Rangers brand.
The deal is a combination of cash and stock that is valued at $522 million. Hasbro had previously paid Saban $22.25 million in licensing rights for Power Rangers in February 2018 that was slated to begin in 2019. That amount will be credited to this purchase price.
For Hasbro, acquiring the rights to “Mighty Morphin Power Rangers” is key. Created by Saban and initially launched in 1993, the series has nearly 900 episodes — which airs in 150 markets worldwide — produced to date, and in 2017, a live-action movie distributed by Lions Gate Entertainment sold $142 million worth of tickets worldwide.
The first set of products from Hasbro will be available in spring 2019.
“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,” said Brian Goldner, Hasbro’s chairman and chief executive officer said in a release.
“Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential,” he added. “We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint.”
Haim Saban, founder of Saban Brands and creator of Power Rangers, added, “Twenty-five years after launching Power Rangers, I believe the future for this brand has never been greater,” said also said in the same release. Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property.”