Hasbro purchases Power Rangers franchise
Following February’s announcement that Hasbro would take over as the toy partner for Power Rangers, the Pawtucket toy company announced that it has entered an agreement with owner Saban Brands to purchase the franchise outright. The deal also includes My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives and others with a value at $522 million through a combination of cash and stock options. Haim Saban, founder of Saban Brands and creator of Power Rangers, will continue to be involved through a consulting position.
“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. “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.”
“25 years after launching Power Rangers, I believe the future for this brand has never been greater,” said Haim Saban. “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.”
Derived from Toei’s Super Sentai franchise, Powers Rangers initially hit the scene in 1993, blending Japanese fight footage with locally shot actors. The franchise was part of Disney’s purchase of Saban Entertainment in 2001, before being bought by Saban Brands in 2010. The franchise has inspired countless spinoffs and three theatrical films, most recently with last year’s Lionsgate feature. 2019’s season Power Rangers: Beast Morphers will use footage from Tokumei Sentai Go-Busters. The series will air on Nickelodeon, continuing a relationship first established in 2011 with Power Rangers Samurai, the inaugural show produced under Saban Brands. Beast Morphers’ toyline, which debuts in spring 2019, will be the first time Hasbro makes merchandise for the franchise.
Hasbro previously paid Saban Brands $22.25 million for the Power Rangers master toy license agreement, announced by the parties in February of 2018. That amount is being credited against the purchase price. Under the terms of the purchase agreement, Hasbro will pay an additional $229.75 million in cash and will issue $270 million worth of Hasbro common stock for the Power Rangers brand and several other entertainment brands. The agreement includes all related intellectual property, category rights and content libraries owned by Saban Properties and its affiliates. The transaction is subject to a number of customary closing conditions, including obtaining required regulatory approvals, and is expected to be finalized during the second quarter of 2018.