Haim Saban Sells Power Rangers To Hasbro For $522M In Cash, Stock

LOS ANGELES (CBSLA) — It's "morphin" time for the Power Rangers, which has been sold to toymaker Hasbro Inc. for $522 million in cash and stock.

Along with entertainment brands like My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives, the Power Rangers will join Hasbro's giant stable of toys that already includes Transformers, My Little Pony, Monopoly and Play-Doh.

Los Angeles billionaire Haim Saban created the "Mighty Morphin Power Rangers" TV show, a remake of a Japanese action show about ordinary teenagers who take on supernatural strength the battle bizarre creatures from space.

Fox bought the live-action TV show in 1993, and it became a hit – undergoing several transformations and name tweaks over the years. Nearly 900 episodes have been produced to date, and the TV series is currently in its 25th season with Power Rangers Super Ninja Steel. The Rangers have also fought their way onto the big screen at least twice, most recently in 2017 with a $100 million reboot starring Elizabeth Banks as the villain Rita Repulsa.

"Twenty-five years after launching Power Rangers, I believe the future for this brand has never been greater," Saban said in a statement. "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."

The first set of Power Rangers products from Hasbro will be available next year.

(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. City News Service contributed to this report.)