In an effort to reverse losses in 2019, Hasbro Inc (HAS.O) is in agreement to acquire Power Rangers and assorted other children’s franchises from Saban Entertainment for around 250 million in cash and stock.
Hasbro currently manufactures toys and action figures, but also utilizes the franchises behind those toys and action figures to create movie and TV shows. This allows them to diversify their profits. Hasbro, who most famously owns “My Little Pony,” “Transformers” and “Monopoly” took a hit last year when Toys’R’Us filed bankruptcy.
An announcement from Hasbro and Saban Entertainment is expected as early as Tuesday though neither company has publicly commented.
Saban Entertainment created Power Rangers in 1993 by Haim Saban. Hasbro will take over Power Rangers as well as other popular franchises from Saban like Popples and Luna Petunia.
by Jessica Marie
FTO: NERD TALK 