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: Mattel shares jump after it wins Disney Princess, ‘Frozen’ toy license from rival Hasbro

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Mattel Inc. stock jumped nearly 10% in Wednesday trading after it announced that it has won the license to sell Disney Princess dolls and those based on the animated “Frozen” film from rival Hasbro Inc.

Mattel MAT, +9.99% will start selling the Disney toys in 2023.

“We are incredibly proud to welcome back the Disney Princess and Frozen lines to Mattel,” said Richard Dickson, Mattel’s chief operating officer in a statement.

The Disney Princess lineup will include dolls based on “Beauty and the Beast,” “Brave” and “The Little Mermaid.” Mattel already had a deal with Disney for the Pixar Animation Studio “Toy Story” and “Cars” franchises.

According to a report from The Wall Street Journal, the group that managed the Barbie revival lead the effort behind the new dolls. Mattel lost the license to the Disney Princess lineup in 2016; a period of instability followed, notes the WSJ.

Mattel stock has gained 21.3% over the past year.

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Hasbro HAS, -1.16% stock fell 0.3% in early Wednesday trading after the news. That company’s brands include Nerf, Peppa Pig and the Monopoly board game.

Hasbro announced Wednesday that it has renewed its license deal with Lucasfilm for the Star Wars lineup, which is under the Disney umbrella, and has expanded its relationship to include a line of Indiana Jones toys. The Indiana Jones line will be available in the U.S. in 2023.

“Hasbro is proud to maintain a strong connection with Disney, the creator of some of the most celebrated and everlasting entertainment franchises and looks forward to continuing its storied relationship with new product lines for Star Wars, Indiana Jones, Marvel and many more initiatives in the future,” the company said in a statement.

Hasbro named Chris Cocks chief executive in early January after the death of Brian Goldner in October. He will assume the role on Feb. 25.

Hasbro shares are nearly flat over the past year. Walt Disney Co. DIS, +0.25% stock has fallen 18.8% over the last 12 months. And the benchmark Dow Jones Industrial Average DJIA, +0.45% is up 12.2%.

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