The "Mighty Morphin Power Rangers" cash in.
The reboot of the classic 90's children's action drama Mighty Morphin Power Rangers last year was well received by fans and made $142 million on a $100 million budget. While those aren't quite Black Panther numbers, it was enough to prove that after over two decades, the teenage superheroes were still popular. Haim Saban, who created the Power Rangers through his Saban Brand, chose Hasbro to be the master toy licensee earlier this year for a cool $22.3 million. Now, Saban is taking it a step further and selling the brand to the company in full.
As reported by CNET, Hasbro is purchasing the Mighty Morphin Power Rangers, along with several other Saban entertainment brands, for $522 million (cash-and-stock deal). Saban worked closed with Bandai for 25 years to bring Power Ranger merchandise to fans worldwide, but in February their relationship ended with an initial deal through Hasbro. Written into the first deal was a clause that would potentially allow Hasbro to own the Power Rangers outright, which is what is happening now. My Pet Monster, Treehouse Detectives, Popples, Julius Jr., and Luna Petunia are a few of the other properties that were included in the deal.
Hasbro's first set of Power Ranger toys and merchandise is set to debut next spring.