Today, Johnson said, the bar to get distributed on the major streaming services — Apple Inc. and Spotify Technology — is lower than it is for getting on major radio stations.
Saban Music Group is a return to the entrepreneur’s business roots.
He was a teenage concert promoter in his childhood home of Tel Aviv and made an initial fortune selling a catalog of cartoon music he produced to Warner Bros. Entertainment Inc. for around $6 million in 1986.
His financial breakthrough, however, came with the “Mighty Morphin Power Rangers,” which debuted in 1993. Saban has sold, repurchased, and resold the Power Rangers’ intellectual property — most recently to Hasbro Inc. in May 2018, for $522 million.
Saban appeared ready to move that money toward a special purpose acquisition company to purchase camera equipment-maker and post-production studio Panavision Inc. But the deal for the 65-year-old Woodland Hills-headquartered company fell through in March, with a short regulatory timeframe blamed for preventing the sale’s completion.
The mogul’s next big move appeared to be another sale — reports have circulated in the past month that Saban wanted to unload his controlling stake in Univision Communications Inc., valued at $700 million.
Saban declined to comment on whether he’s looking to sell his Univision stake.
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