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takyon [soylentnews.org] writes:

Hasbro Picks Up Power Rangers, Other Saban Entertainment Assets, for $522 Million [variety.com]

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 [million] 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.

Hasbro's financials were recently hurt by the demise of Toys "R" Us [soylentnews.org].

Haim Saban [wikipedia.org].

Also at Deadline [deadline.com], CNBC [cnbc.com], and The Hollywood Reporter [hollywoodreporter.com].

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