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.