Haim Saban is buying back the Power Rangers from Walt Disney with the hope to take the entertainment franchise that he launched to TV and toy stardom in the 1990s to new fans.
His Saban Capital Group is also taking it to Viacom's Nickelodeon as the new U.S. home for the series, which is heading into its 18th season with a new cast and the goal to rejuvenate the fading franchise.
Library episodes of the show will start airing on Nicktoons later this year, with 20 new episodes set for Nickelodeon and Nicktoons in 2011 under the direction of original executive producer Jonathan Tzachor.
Saban is buying the franchise in a renewal of his collaboration with Toei Co., the creator of the original Japanese Power Rangers TV show and an underlying rights-holder.
Financial terms weren't disclosed, but the price tag is believed to be less than $100 million. Nickelodeon in a deal similarly focused on reinvigorating an older franchise last year bought the Teenage Mutant Ninja Turtles for $60 million.
The Power Rangers becomes the first property for Saban Brands, a new arm of SCG with a $500 million budget that will acquire entertainment, lifestyle, fashion and other brands.
Disney has been featuring shows starring the Power Rangers on Saturday mornings on ABC and on Disney XD channels in foreign markets, but it's doubtful the family-friendly conglomerate will miss it much given that it deemed the property too violent for its target audience of young boys.
"It didn't fit with the Disney brand. Moms didn't like it," said Disney spokemsan Jonathan Friedland.
The Power Rangers are expected to disappear from Disney and ABC lineups "immediately," Friedland said.
Disney's recent acquisition of Marvel also gives Disney ample access to new action content for the boys' demo.
"Power Rangers is one of the world's leading children's entertainment properties, and we are delighted to see its return," said SCG chairman and CEO Haim Saban. "I am confident that the talented management team at Saban Brands will expand our licensing partnerships and capitalize on the significant growth potential of this powerful brand."
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