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By Kritika Lamba and Anuja Bharat Mistry (Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. The first products from the tie-up will release next year. Since its June debut, "KPop Demon Hunters" has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. DIVERSIFICATION PUSH The streamer also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content to diversify its revenue away from subscriptions. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. Financial details of Tuesday's deal were not disclosed. Mattel declined to share further details, while Hasbro did not immediately respond to a Reuters request. Shares of Mattel closed regular trading 2.5% higher as the deal offers the company another chance to tap into a global entertainment phenomenon, like its success with "Barbie." Mattel will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Its CEO, Ynon Kreiz, called the deal "a win-win for both the companies" in an interview with Reuters. "This is especially exciting given the scale and appeal of this new franchise." Kreiz said Mattel was fast-tracking development of the products due to strong expected demand and would expedite shipping. "We will do everything we can to fulfill the demand," he said. The company also reported third-quarter results on Tuesday, with its sales and profit falling short of estimates due to sluggish demand in North America amid economic uncertainty. Meanwhile, Hasbro's range from the Netflix tie-up will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Jaspreet Singh and Dawn Chmielewski (Reuters) -Warner Bros Discovery's board rejected a nearly $60 billion offer from Paramount Skydance on Tuesday, a source said, and the company announced it would explore its options for the sale of the company. Reuters exclusively reported that the company's board rejected a mostly cash offer of nearly $24 a share for the company, whose assets include the Warner Bros film and television studios, its CNN and other cable television networks and its HBO Max streaming service, according to a source familiar with the matter. Shares of the company closed 11% higher on Tuesday.  Warner Bros and Paramount declined to comment. Comcast is likely to examine the media firm's assets, another source told Reuters on Tuesday. Netflix is also among the interested parties, CNBC reported, following earlier reports that Paramount Skydance CEO David Ellison was also in talks to acquire the whole company. Warner Bros — the studio behind the "Harry Potter" and DC Comics film franchises — announced plans in June to split into studio-centric and cable-focused units by next year to separate its growing streaming business from its lagging cable network unit. The board will consider a range of options including its planned separation, a deal for the entire company, or separate transactions for its Warner Bros or Discovery Global businesses, the company said on Tuesday. It is also considering an alternative separation structure that would enable a merger of Warner Bros and a spinoff of Discovery Global.  SALE COULD RESHAPE MEDIA LANDSCAPE A sale or a split would be one of the most consequential moments reshaping the media industry. Streaming has fundamentally transformed the industry, stealing the audiences for traditional television broadcasts, and sapping advertising revenue. Any deal for Warner Bros Discovery would give the buyer control of a major studio and a leading streaming service, but also saddle it with the company's roughly $35 billion debt. Shares of WBD, which has a market valuation of $45.36 billion, have surged more than 46% since early September, when reports of Paramount's interest in the company surfaced. "Paramount is the most likely to purchase the company. For Netflix, a purchase would make more sense following the planned split because the studio would be very valuable to Netflix but the TV networks not as much," said eMarketer senior analyst Ross Benes. The company already rejected an initial bid from Paramount because the offer of around $20 per share was too low, two sources told Reuters. Bank of America research analyst Jessica Reif Ehrlich estimated the whole company was worth $30 per share, given its assets, and noted that WBD was not commenting on the offers.  "Given the company's wealth of premium IP (Harry Potter, DC, Lord of the Rings, Game of Thrones, etc.) and robust library, we continue to believe Warner Bros is an extremely attractive potential acquisition target," she wrote in an investor note. Comcast is in the process of spinning off its NBCUniversal cable channels, including USA Network and CNBC, into a new company called Versant later this year.  "Potential WBD suitors, including Paramount, Comcast, Netflix, Amazon and Apple, could see value in moving sooner rather than later to acquire the entirety of WBD versus waiting to purchase just the streaming and studios assets," said Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. Netflix did not immediately respond to Reuters' request for comment.  ELLISON FAMILY'S AMBITIONS Skydance's advances soon after snapping up Paramount speak to the Ellison family's voracious appetite to dominate the global media landscape amid a favorable regulatory regime in the United States.  Analysts believe David Ellison's deep pockets — backed by his father, Oracle co-founder and the world's second-richest person Larry Ellison — give him the firepower to take the risk. The elder Ellison's close ties with U.S. President Donald Trump may also smooth regulatory hurdles and avoid the scrutiny that would usually come with such a merger, analysts say.  (Reporting by Dawn Chmielewski in Los Angeles; Harshita Mary Varghese and Jaspreet Singh in Bengaluru and Milana Vinn in New York; Editing by Leroy Leo and Matthew Lewis)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Kritika Lamba and Anuja Bharat Mistry (Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. The first products from the tie-up will release next year. Since its June debut, "KPop Demon Hunters" has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. DIVERSIFICATION PUSH The streamer also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content to diversify its revenue away from subscriptions. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. Financial details of Tuesday's deal were not disclosed. Mattel declined to share further details, while Hasbro did not immediately respond to a Reuters request. Shares of Mattel closed regular trading 2.5% higher as the deal offers the company another chance to tap into a global entertainment phenomenon, like its success with "Barbie." Mattel will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Its CEO, Ynon Kreiz, called the deal "a win-win for both the companies" in an interview with Reuters. "This is especially exciting given the scale and appeal of this new franchise." Kreiz said Mattel was fast-tracking development of the products due to strong expected demand and would expedite shipping. "We will do everything we can to fulfill the demand," he said. The company also reported third-quarter results on Tuesday, with its sales and profit falling short of estimates due to sluggish demand in North America amid economic uncertainty. Meanwhile, Hasbro's range from the Netflix tie-up will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Kritika Lamba and Anuja Bharat Mistry (Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. The first products from the tie-up will release next year. Since its June debut, "KPop Demon Hunters" has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. DIVERSIFICATION PUSH The streamer also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content to diversify its revenue away from subscriptions. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. Financial details of Tuesday's deal were not disclosed. Mattel declined to share further details, while Hasbro did not immediately respond to a Reuters request. Shares of Mattel closed regular trading 2.5% higher as the deal offers the company another chance to tap into a global entertainment phenomenon, like its success with "Barbie." Mattel will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Its CEO, Ynon Kreiz, called the deal "a win-win for both the companies" in an interview with Reuters. "This is especially exciting given the scale and appeal of this new franchise." Kreiz said Mattel was fast-tracking development of the products due to strong expected demand and would expedite shipping. "We will do everything we can to fulfill the demand," he said. The company also reported third-quarter results on Tuesday, with its sales and profit falling short of estimates due to sluggish demand in North America amid economic uncertainty. Meanwhile, Hasbro's range from the Netflix tie-up will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)