Mattel Shares Rally Premarket on Recapture of Disney Business
26 Janeiro 2022 - 10:18AM
Dow Jones News
By Colin Kellaher
Shares of Mattel Inc. rallied in premarket trading Wednesday
after The Wall Street Journal reported that the toy maker has won
the license to produce toys based on Walt Disney Co.'s princess
lineup and the "Frozen" franchise, snagging the properties back
from rival Hasbro Inc.
Hasbro shares edged lower.
Mattel had lost the Disney license to Hasbro in 2016, a setback
that precipitated a raft of chief executive changes and created a
$440 million hole from the lost business, the Journal reported,
adding that Mattel would start selling new Disney toys next
year.
Mattel shares, which closed Tuesday at $19.61, were recently up
7%, to $20.99, in premarket trading, while Hasbro shares slipped
1.8%, to $93.85.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 26, 2022 08:03 ET (13:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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