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Entertainment

Billionaire Haim Saban Buys Paul Frank Brand

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German Media Awards

Billionaire media mogul Haim Saban has bought Paul Frank Industries, the owner of the Julius monkey brand and other characters, for an undisclosed sum.

The deal marks the second purchase for Saban Brands, a fund seeded with $500 million. In May, Saban Brands bought back the Power Rangers from The Walt Disney Co.

Saban had originally made his fortune by licensing the Power Rangers from Japan’s Toei Company Ltd.

Saban says his company will continue to be aggressive but selective in acquiring new brands, and says it is in talks with two other groups on more than a dozen properties.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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