LOS ANGELES & PAWTUCKET, R.I.--(BUSINESS WIRE)--May 1, 2018--
Inc. (NASDAQ: HAS), a global play and entertainment company, and
Saban Properties LLC today announced that the companies have 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.
This press release features multimedia. View the full release here:
“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, founder of
Saban Brands and creator of Power Rangers. “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.”
Created by Haim Saban and launched in 1993, Mighty
Morphin Power Rangers quickly became a pop culture phenomenon.
Today, Power Rangers is one of the longest running kids’ live-action
series in television history with nearly 900 episodes produced to date.
The TV 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.
Hasbro has previously paid Saban Brands$22.25 million pursuant to the Power Rangers master toy license
agreement, announced by the parties in February of 2018, 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
The transaction, including intangible amortization expense, is not
expected to have a material impact on Hasbro’s 2018 results of
J.P. Morgan Securities LLC is serving as financial advisor to Hasbro.
Hasbro (NASDAQ: HAS) is a global play and entertainment company
committed to Creating the World's Best Play Experiences. From
toys and games to television, movies, digital gaming and consumer
products, Hasbro offers a variety of ways for audiences to experience
its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS,
PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as
premier partner brands. Through its entertainment labels, Allspark
Pictures and Allspark Animation, the Company is building its brands
globally through great storytelling and content on all screens. Hasbro
is committed to making the world a better place for children and their
families through corporate social responsibility and philanthropy.
Hasbro ranked No. 1 on the 2017 100 Best Corporate Citizens list by CR
Magazine, and has been named one of the World’s Most Ethical
Companies® by Ethisphere Institute for the past seven years. Learn more
and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
© 2018 Hasbro, Inc. All Rights Reserved.
About Saban’s Power Rangers
Saban’s Power Rangers franchise is the brainchild of Haim Saban, creator
and producer of the original, Mighty Morphin Power Rangers hit series
that launched in 1993. Following its introduction, “Power Rangers”
quickly became the most-watched television program in the United
States and remains one of the top-rated and longest running kids
live-action series in television history. The series, currently in its 25thseason,
follows the adventures of a group of ordinary teens who morph into
superheroes and save the world from evil. It is seen in more than 150
markets, translated into numerous languages and a favorite on many key
international children’s programming blocks around the world. For more
information, visit www.powerrangers.com.
About Saban Brands
Formed in 2010 as an affiliate of Saban Capital Group, Saban
Brands acquires, develops and manages a world-class portfolio
of entertainment properties. Saban Brands applies a global 360-degree
management approach to growing and monetizing its brands through
content, digital, marketing, distribution, licensing and retail in
markets worldwide. Saban Brands’ growing entertainment portfolio of
brands includes Power Rangers, Treehouse Detectives, Julius Jr.,
Popples, Glitter Force, and Cirque du Soleil Junior – Luna
Petunia, amongst many others. Saban Brands is headquartered in Los
Angeles with a global network of offices. For more information, visit www.sabanbrands.com.
Certain statements in this release contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995. These statements include expectations concerning Hasbro’s
potential performance in the future, its ability to achieve its
financial and business goals and the expected timing for closing this
transaction and may be identified by the use of forward-looking words or
phrases. Hasbro's actual actions or results may differ materially from
those expected or anticipated in the forward-looking statements due to
both known and unknown risks and uncertainties. Specific factors that
might cause such a difference include, but are not limited to: (i) the
company’s ability to successfully develop and commercialize the brands
it is acquiring, (ii) the ability to receive required regulatory
approvals in a timely manner, and (iii) other risks and uncertainties as
may be detailed from time to time in the Company's public announcements
and Securities and Exchange Commission (“SEC”) filings. Hasbro
undertakes no obligation to make any revisions to the forward-looking
statements contained in this release or to update them to reflect events
or circumstances occurring after the date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180501005946/en/
Source: Hasbro, Inc.
Debbie Hancock, 401-727-5401
Julie Duffy, 401-727-5931
Sard Verbinnen & Co