Media mogul Haim Saban wants to become a brand mogul, too.

Saban, who first earned a fortune with "Mighty Morphin Power Rangers" and now is chairman and chief executive of Saban Capital Group, which counts the powerful Spanish-language broadcast network Univision among its holdings, is launching a new company, Saban Brands, and says he is committing $500 million in capital to acquire established entertainment and consumer names.

Brands have become one of the latest obsessions for companies looking to reach consumers beyond traditional media.

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