Hasbro Inc. and Saban Properties LLC signed a definitive agreement for Hasbro to purchase Saban’s Power Rangers and several other entertainment brands, including My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives, and others, in a combination of cash and stock valued at $522 million.
Hasbro previously paid Saban Brands $22.25 million pursuant to the Power Rangers master toy license agreement, announced in February, that was scheduled to begin in 2019. Those amounts are 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 close during the second quarter of 2018.
Created by Haim Saban and launched in 1993, Power Rangers is one of the longest running kids’ live-action series in TV history, with nearly 900 episodes produced to date. The series, currently in its 25th season with Power Rangers Super Ninja Steel, and feature films, including 2017’s movie with Lionsgate, follows the adventures of a group of ordinary teens who morph into superheroes and save the world from evil. Saban’s Power Rangers currently airs in 150 markets around the world and is translated into numerous languages. The first set of products from Hasbro will be available in spring 2019.