"Power Rangers Series Reimagined for New Generation on Disney+"

Exciting news for fans of the iconic franchise: a live-action Power Rangers series is reportedly in the works for Disney+. According to The Wrap, the acclaimed duo behind the Percy Jackson and the Olympians series, Jonathan E. Steinberg and Dan Shotz, are in negotiations to helm this new project as writers, showrunners, and producers in collaboration with 20th Century TV. This development marks a significant step for the franchise, which is owned by Hasbro.

Hasbro's vision for the series is ambitious, aiming to reinvent Power Rangers for a new generation while ensuring it remains appealing to long-time fans. The franchise, which became a cultural phenomenon with The Mighty Morphin’ Power Rangers in the '90s, captured the hearts of countless children who were mesmerized by its teenage superheroes and their impressive mechs capable of combining into an even larger, more powerful mech.

In 2018, Hasbro acquired Power Rangers and other brands from Saban Properties in a deal valued at $522 million. At the time, Hasbro's chairman and CEO, Brian Goldner, expressed enthusiasm about the brand's potential, stating, "We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint."

This acquisition followed the underwhelming performance of the 2017 Power Rangers movie reboot, which attempted a darker, grittier take on the beloved characters but failed to resonate with audiences. The lackluster box office results led to the cancellation of planned sequels and paved the way for Saban to sell the rights to Hasbro.

Hasbro has been busy expanding its portfolio with other notable projects, including a live-action Dungeons & Dragons series titled The Forgotten Realms in development at Netflix, an animated Magic: The Gathering series also at Netflix, and plans for a Magic: The Gathering cinematic universe. These initiatives underscore Hasbro's commitment to leveraging its iconic brands across various media platforms.