As first reported by Reuters, Saban Properties has sold Power Rangers, along with several other properties, to Hasbro Inc. for an estimated $522 million.
Hasbro, seeking to reverse the financial damage caused by the shifting toy market and bankruptcy of Toys R Us, is the world’s largest toy maker, with long standing successful franchises like Transformers and My Little Pony.
Included in the deal will be the rights to future TV and film opportunities.
From Hasbro CEO Brian Goldner: “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. Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. 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. We couldn’t be more pleased that Haim Saban will continue in a consulting role to further guide our development of this valuable property for the next generation of Power Rangers fans.”
From Haim Saban, creator of Power Rangers and founder of Saban Brands: “25 years after launching Power Rangers, I believe the future for this brand has never been greater. 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. I look forward to working with Brian and the team in the years to come.”
Hasbro has unsuccessfully attempted to merge/acquire several organizations, including Mattel, Dreamworks Animation, and Lions Gate, in an attempt to further diversify beyond toys, action figures, and games.
Parties involved expect the deal to be finalized this summer, with the first Power Rangers products from hasbro expected in spring of 2019.