PAWTUCKET, R.I. (AP) — Hasbro is buying the Power Rangers and some other toy brands from Saban Properties in a cash-and-stock deal valued at $522 million.
The announcement comes after Saban Brands picked Hasbro Inc. as the master toy licensee for the Power Ranger line in February. The approximately $22.3 million Hasbro paid toward the licensing agreement will be credited to the acquisition.
The Mighty Morphin Power Rangers, a television series about a group of teenagers that turn into superheroes, was created by Haim Saban, founder of Saban Brands.
Aside from the Power Rangers, the buyout announced Tuesday includes My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives and other brands. The first set of products from Hasbro will be available next spring.
The acquisition is expected to close in the second quarter.