Back in February Saban Brands announced that Hasbro had secured the global toy license to the Power Rangers franchise in a deal with also gave the toy giant the opportunity to initiate a purchase of the property – an option that Hasbro has now exercised in a deal worth around $522 million.
“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 Hasbro CEO Brian Goldner. “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,” added Haim Saban. “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.”
The deal, which is expected to go through before the end of June, will see the Power Rangers joining Hasbro’s other IPs, including the likes of Transformers, G.I. Joe, My Little Pony, Action Man, M.A.S.K., Rom the Spaceknight, Micronauts, Dungeons & Dragons and Action Man.
The Power Rangers television series was recently renewed through to 2021 in a deal with Nickelodeon, so it’s unlikely to have any impact on the TV side of the franchise in the near future. However, given that Hasbro has an exclusive deal with Paramount Pictures, it is likely that it marks the final nail in the coffin for a sequel to the Lionsgate movie. That being said, one would imagine that Hasbro and Paramount would be keen to explore the possibility of a big screen reboot at some point in the near future.
