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2/21, 3:47 PM (Source: TeleTrader)
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Hasbro, Disney extend merchandise licensing deal

Hasbro Inc. will continue to develop toys and games from Marvel's global Universe and Star Wars franchise, the toymaker and the Walt Disney Company announced in a press release on Friday. The agreements confirmed will be multiannual, the two companies said, although they failed to precise the exact length and financial terms of the agreement.

Hasbro's sales of entertainment franchises-related products rose 24% in 2019, reaching $1.22 billion.

"We are pleased to build on our relationship with Disney and extend our agreement for Marvel and Star Wars franchises," Hasbro's chairman and CEO Brian Goldner underlined.

Hasbro's stock traded 2.08% in the red shortly after the opening bell, while Disney's shares declined 0.83% at the same time.

Breaking the News / GG