×
You will be redirected back to your article in seconds

Hasbro Picks Up Power Rangers, Other Saban Entertainment Assets, for $522 Million

Toymaker Hasbro, Inc. announced on Tuesday said it would acquire Saban’s Power Rangers and other entertainment assets in a cash-and-stock deal valued at $522 million.

The transaction also includes other properties including “My Pet Monster,” “Popples,” “Julius Jr.,” “Luna Petunia” and “Treehouse Detectives.” Hasbro and Saban brands previously announced a $22 million master toy licensing agreement set to begin next year.

Hasbro will pay nearly $230 million in cash and issue $270 in Hasbro common stock for the assets. The sale is expected to during the second quarter of 2018.

The Power Rangers franchise, first started in 1993 by Haim Saban, is one of the longest-running live-action kids series. It has now spawned a number of movies including last year’s Lionsgate picture, which grossed $142 million globally.

“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 chairman and CEO, said in a statement.

Goldner said Hasbro sees opportunities for toys, games, consumer products, digital gaming and entertainment. Saban is expected to serve in a consulting role to Hasbro, Goldner added.

“Twenty-five years after launching Power Rangers, I believe the future for this brand has never been greater,” Saban said. “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.”

Hasbro stock is down nearly 2% to $86.35. The deal comes as toymakers are adjusting to the fallout of the bankruptcy of Toys R Us, which is having major impact on companies such as Hasbro, Mattel, and other companies in the supply chain.

More Biz

  • Sub Pop Cofounder Jonathan Poneman Talks

    Sub Pop Cofounder Jonathan Poneman Talks Legacy and Lifetime Achievement Award

    In its early days, Sub Pop seemed like one of the last record companies on earth that would survive, let alone remain vital, for more than 30 years. They brought Nirvana and Soundgarden to the world, but seemed destined to be forever typecast as the ground zero of grunge, a rock genre that shook the [...]

  • Contract Placeholder Business WGA ATA Agent

    Writers Guild Rejects ATA Offer, Seeks Individual Talks With 9 Top Agencies

    The Writers Guild of America has called off negotiations with the Association of Talent Agents in favor of pursuing individual talks with nine top agencies as it enforces a total ban on packaging fees and affiliated production for agents representing guild members. WGA West president David Goodman announced the guild’s decision to reject the ATA’s [...]

  • Harry Ponsonby and Diane Kamin

    Hollywood’s National Research Group Expands Into Asia (EXCLUSIVE)

    Media research and testing firm National Research Group is this month to open its first office in Asia. The new unit will be located in Singapore and eventually operate across a widely-defined version of Asia Pacific that includes mainland China, Japan and India. Best known for its behind the scenes role in pre-release testing of [...]

  • Jim Gosnell

    APA Claims Texts Were Fabricated in Lurid Sex Harassment Suit

    A former assistant at APA filed a lurid sexual harassment complaint on Wednesday alleging that a partner at the firm sent her graphic text messages and threatened to have her fired when she refused his advances. The assistant, identified in the suit only as Jane Doe, alleges that top management fostered a “toxic, pervasive and [...]

  • Logic Launches BobbyBoy Records as Joint

    Logic Launches BobbyBoy Records as Joint Venture With Def Jam

    Grammy-nominated rapper Logic — aka Sir Robert Bryson Hall II, aka Bobby Hall —has announced a joint venture with Def Jam Recordings for his new label, BobbyBoy Records, which was formerly known as Elysium Records. The imprint’s initial artist roster is comprised of singer-songwriter John Lindahl, Damian Lemar Hudson (featured on “Black Spiderman,” from Logic’s RIAA platinum 2017 album, “Everybody”); Big Lenbo (featured on two previous Logic albums); [...]

More From Our Brands

Access exclusive content