PAWTUCKET and UNIVERSAL CITY, Calif. – Universal Pictures today joined Hasbro Inc. (NYSE: HAS) in announcing a six-year strategic partnership to produce at least four movies based on Hasbro games.
“Universal’s creativity and worldwide marketing and distribution strength make them the perfect partner,” Brian Goldner, the toymaker’s chief operating officer, said today. “Today’s Hasbro is so much more than a traditional toy and game company – and this partnership is a powerful example of how we are offering our consumers new ways to enjoy unique and immersive experiences with our brands.”
“This deal gives Universal access to some of the greatest brands in the world,” Universal Chairman Mark Shmuger and Co-Chairman David Linde said in a statement. “Hasbro’s portfolio of products has tremendous emotional resonance with children and adults. They offer an exciting opportunity for us to develop tentpole movies with built-in global brand awareness, which is a key component of our slate strategy.”
The agreement excludes Hasbro’s Transformers brand, the subject of last year’s hit movie from Dreamworks, which was directed by Michael Bay, as well as GI Joe, the subject of a Paramount Pictures movie currently being filmed by “Mummy” director Stephen Sommers.
But the toymaker agrees to partner exclusively with Universal Pictures for feature films based on other Hasbro brands. The first film under the deal will be released in 2010 or 2011, with subsequent films following at one-year intervals, the companies said.
The companies did not say which games might be used as the basis for movies under the agreement, though their announcement mentioned Hasbro’s Monopoly, Candy Land, Clue, Ouija, Battleship, Stretch Armstrong and Magic, The Gathering brands.
The new agreement – brokered for Hasbro by the William Morris Agency – is part of a drive by the toymaker to expand its presence in the entertainment industry. To further that goal, the company recently hired Lisa Licht as its new general manager of entertainment and licensing; she will be working out of Los Angeles, Hasbro said.
Hasbro also is working with Electronic Arts – under a similar deal, announced in August – to develop digital games based on many of its properties.
Hasbro Inc. (NYSE: HAS) – the world’s second-largest toymaker – designs, manufactures and markets games and toys under brands including Playskool, Tonka, Milton Bradley, Parker Brothers, Tiger and Wizards of the Coast. Additional information is available at www.hasbro.com.
Universal Pictures is a division of Universal Studios, a member of the NBC Universal family of companies formed by the May 2004 merger of NBC and Vivendi Universal Entertainment. General Electric owns 80 percent of NBC Universal while Vivendi owns 20 percent. To learn more, visit www.universalstudios.com.
