Haim Saban Sells Power Rangers for Over $500 Million
Israeli-American Hollywood billionaire Haim Saban has sold the Power Rangers brand to Hasbro for over $500 million.
The deal is structured for Saban to receive $229.75 million in hard cash and an additional $270 million in Hasbro stock as part of the $522 million deal. Saban will also be a consultant for Hasbro under the deal.
“Twenty-five years after launching Power Rangers, I believe the future for this brand has never been greater,” Saban said in a press release. “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.”
Hasbro CEO Brian Goldner said in a statement, “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. 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.”
The recent deal comes on the heel of a February deal in which Hasbro purchased a master toy license from Saban Brands for $22.25 million.
Power Rangers, the live action superhero television series, is what propelled Saban into his status as a Hollywood mogul. He had previously sold the franchise to Disney in 2001, but it was eventually sold back to him in 2010 since Disney didn’t think the franchise was a good fit for them.
Saban has been an active donor to Jewish and Israeli causes, including a recent $1 million pledge to the Israeli-American Council (IAC) after withdrawing from the organization in 2015.