Follow LA Observed on Twitter here
The L.A. billionaire is buying Costa Mesa-based Paul Frank Industries, a licensing and retail operation best known for the Julius the monkey icon. Purchase price was not disclosed, though the NY Post said the sellers had been looking for as much as $50 million. Saban, whose company owns the Power Rangers franchise, has been looking to acquire additional entertainment and consumer properties. Paul Frank generates $8 million a year in royalties from licensees.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.