Universal Pictures and Hasbro Sign Strategic Partnership
UNIVERSAL CITY, Calif. & PAWTUCKET, R.I.--(BUSINESS WIRE)--Feb. 20, 2008--Universal Pictures and Hasbro, Inc. (NYSE:HAS) announced today that they have formed a six-year strategic partnership to produce at least four motion pictures based on some of the world's best-known and beloved brands, including "MONOPOLY," "CANDY LAND," "CLUE," "OUIJA," "BATTLESHIP," "MAGIC, THE GATHERING," and "STRETCH ARMSTRONG." The announcement was jointly made by Marc Shmuger and David Linde, Chairman and Co-Chairman of Universal Pictures, and Brian Goldner, Hasbro's Chief Operating Officer.
Under the terms of the deal, Hasbro will partner exclusively with Universal Pictures for feature films, with the exception of TRANSFORMERS, which became the centerpiece of the 2007 smash hit movie directed by Michael Bay and has already spawned a sequel; and GI JOE, which is currently filming under the direction of Stephen Sommers. The first movie from this deal will be released in 2010 or 2011, and Universal will release at least one film a year thereafter.
"This deal gives Universal access to some of the greatest brands in the world," explained Shmuger and Linde. "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."
"Universal's creativity and worldwide marketing and distribution strength make them the perfect partner," said Goldner. "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."
As part of its commitment to expanding its presence in the world of entertainment, Hasbro has recently hired Lisa Licht as its new General Manager of Entertainment and Licensing; she is based in Los Angeles. In addition, in August 2007, Hasbro announced an agreement with Electronic Arts to develop digital games based on many of its properties across a variety of platforms.
On behalf of Hasbro, the agreement was brokered by the William Morris Agency.
About Hasbro Inc.
Hasbro (NYSE:HAS) is a worldwide leader in children's and family leisure time entertainment products and services, including the design, manufacture and marketing of games and toys ranging from traditional to high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, TIGER, and WIZARDS OF THE COAST brands and products provide the highest quality and most recognizable play experiences in the world.
About Universal Pictures
Universal Pictures is a division of Universal Studios (www.universalstudios.com). Universal Studios is part of NBC Universal, one of the world's leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks. NBC Universal is 80% owned by General Electric, with 20% controlled by Vivendi.
CONTACT: Universal Pictures
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SOURCE: Hasbro, Inc.