Toy maker JAKKS Pacific Inc. said Tuesday it had signed licensing agreements with two mixed martial arts organizations to launch a line of action figures and play sets.
The line is expected to be launched in spring of 2010, and will be based on fighters of the World Extreme Cage Fighting and PRIDE organizations, said the Malibu toymaker. Financial terms of the deal were not disclosed.
WEC and PRIDE are members of the Ultimate Fighting Championship organization, which is owned and operated by Zuffa LLC., a Las Vegas sports promotion company. Mixed martial arts is a full contact combat sport that allows wide variety of fighting techniques from various martial arts.
"As the world leader in fighting action figure toys, we plan on dominating the mixed martial arts collector action-figure arena," said JAKKS Pacific Chief Operating Officer Stephen Berman in a statement.
Tuesday's announcement follows new on Friday that a Connecticut state court dismissed World Wrestling Entertainment Inc.'s bribery and antitrust claims against the Jakks and a joint venture partner, Agoura Hills video game publisher THQ Inc. Jakks makes action figures for the WWE, which has been trying to nullify its contract with the toy maker.
An analyst at Morgan Joseph on Tuesday upgraded Jakks stock from "hold" to "buy" on the news.
Jakks shares were up 18 cents, or 1 percent, to $25.13 in morning trading on the Nasdaq.
For reprint and licensing requests for this article, CLICK HERE.