Toy giant Hasbro plays to purchase Power Rangers and other brands from Saban Properties for a combination of cash and stock valued at $522 million.
Announced today by the two companies, the deal also includes My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives, but of course Power Rangers is the crown jewel. Hasbro already paid Saban $22.25 million as part of its Power Rangers master toy license agreement, set to begin next year. That money will now be applied toward the purchase.
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“Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential,” Brian Goldner, Hasbro’s chairman and CEO, said in a statement. “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.”
Debuting in 1993 as Mighty Morphin Power Rangers, the children’s action-adventure series has spawned 19 television sequels, three live-action films, and enough toys and merchandise to generate billions of dollars in sales. Saban partnered with Lionsgate to reboot Power Rangers on the big screen with a live-action film that earned just $142.3 million from an estimated $100 million production budget, raising serious doubts about a sequel.
Hasbro has its own movie production label, and a partnership with Paramount Pictures that has produced Transformers, G.I. Joe, Ouija, My Little Pony and Battleship films, with Micronauts and Dungeons & Dragons on the horizon.