Agreement Extends Hasbro's Global Toy and Game Merchandise Rights
for Marvel Characters Through 2020
PAWTUCKET, R.I. & BURBANK, Calif.--(BUSINESS WIRE)--
Global branded play company, Hasbro,
Inc. (NASDAQ:HAS) and The Walt Disney Company (NYSE: DIS) today
announced the two companies are expanding their strategic merchandising
relationship for major Disney entertainment properties Marvel and Star
Wars.
The Marvel amendment extends Hasbro's global rights to Marvel characters
for an additional two years running through 2020. Hasbro will continue
to develop a wide range of toys and games for Marvel's global Universe
of more than 8,000 characters, including Spider-Man, The Avengers and
Iron Man.
Following the acquisition of Lucasfilm by Disney, the two companies
sought to align the terms of both the Marvel and Lucasfilm agreements.
The Marvel extension is in line with the term for Hasbro's rights for
the Star Wars franchise, which also runs through 2020. Both agreements
cover entertainment, including all film and television properties, for
the respective franchises during the period and include similar product
categories.
"We are delighted to expand our agreements with Disney, Marvel and
Lucasfilm and continue building on our extensive and successful
long-term relationships," said Brian Goldner, Hasbro's President and
CEO. "Disney's entertainment slate provides extensive content for both
companies to build upon for years to come."
"We look forward to continuing our successful partnership with Hasbro,"
said Bob Chapek, President of Disney Consumer Products. "By delivering
innovative and engaging play experiences for consumers all around the
world, Hasbro is uniquely positioned to continue to translate the rich
characters and storytelling of our Marvel and Star Wars franchises."
In accordance with the extended term of the Marvel agreement, Hasbro
will guarantee an additional $80 million in royalties to Disney, with
respect to Marvel-branded products, contingent on additional Marvel
theatrical releases.
Additionally, in anticipation of the next three Star Wars sequel motion
pictures, and the release of other potential Star Wars-related
entertainment, which were not contemplated under the previous agreement,
Hasbro will pay up to $225 million in guaranteed payments to Disney. $75
million will be paid on signing and the remainder becomes due in
accordance with the planned releases of the new Star Wars sequel films. Star
Wars: Episode VII is currently planned for Summer 2015 under the
direction of J.J. Abrams.
About Hasbro, Inc.
Hasbro,
Inc. (NASDAQ: HAS) is a branded play company dedicated to fulfilling
the fundamental need for play for children and families through the
creative expression of the Company's world class brand portfolio,
including TRANSFORMERS, MONOPOLY, PLAY-DOH, MY LITTLE PONY, MAGIC: THE
GATHERING, NERF and LITTLEST PET SHOP. From toys and games, to
television programming, motion pictures, digital gaming and a
comprehensive licensing program, Hasbro strives to delight its global
customers with innovative play and entertainment experiences, in a
variety of forms and formats, anytime and anywhere. The Company's Hasbro
Studios develops and produces television programming for more than 170
markets around the world, and for the U.S. on Hub Network, part of a
multi-platform joint venture between Hasbro and Discovery Communications
(NASDAQ: DISCA, DISCB, DISCK). Through the Company's deep commitment to
corporate social responsibility, including philanthropy, Hasbro is
helping to build a safe and sustainable world for future generations and
to positively impact the lives of millions of children and families
every year. It has been recognized for its efforts by being named one of
the "World's Most Ethical Companies" and is ranked as one of Corporate
Responsibility Magazine's "100 Best Corporate Citizens." Learn more at www.hasbro.com.
© 2013 Hasbro, Inc. All Rights Reserved.
HAS-IR
About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates,
is a leading diversified international family entertainment and media
enterprise with five business segments: media networks, parks and
resorts, studio entertainment, consumer products and interactive media.
Disney is a Dow 30 company and had annual revenues of more than $42.3
billion in its Fiscal Year 2012. Disney's market capitalization exceeds
$100 billion.
Hasbro, Inc. Caution Concerning Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are made on
the basis of Hasbro's current expectations regarding future events,
including potential performance, and Hasbro's ability to achieve its
other financial and business goals. These statements are subject
to significant risks and uncertainty, and 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 delays, increased costs or difficulties in the media initiatives
described in this press release, Hasbro's ability to successfully
design, develop, produce and introduce brands, products and product
lines which achieve and sustain interest from retailers and consumers,
Hasbro's ability to manufacture, source and ship products in a timely
and cost-effective manner and customers' and consumers' acceptance and
purchase of those products in quantities and at prices that will be
sufficient to profitably recover development, manufacturing, marketing,
royalty and other costs, and other risks and uncertainties as may be
detailed from time to time in Hasbro's public announcements and
Securities and Exchange Commission filings, including Hasbro's most
recent annual report on Form 10-K and its most recent quarterly reports
on Form 10-Q. 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.
Hasbro, Inc.
Wayne Charness, 401-727-5983
(News Media)
or
Debbie
Hancock, 401-727-5401
(Investor Relations)
or
Disney
Consumer Products
Margita Thomson, 818-544-0382
Source: Hasbro, Inc.
News Provided by Acquire Media
