The Mattel logo is seen on a toy for sale in the Kidding Around toy store Manhattan, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly
January 26, 2022
(Reuters) – Mattel Inc said on Wednesday it had won a license to make toys based on Walt Disney Co’s “Frozen” franchise and princess lineup, years after losing the license to rival Hasbro Inc.
Hasbro did not immediately respond to a Reuters request for comment.
A deal would reunite the popular Disney characters with Mattel. The company will start selling new Disney toys in 2023.
Shares in Mattel rose about 8%, while those of Hasbro fell around 1% in premarket trading.
Hasbro in 2016 began selling Disney Princess and “Frozen” dolls after edging out Mattel for a license.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Saumyadeb Chakrabarty and Arun Koyyur)
Source: One America News Network
