Hasbro Inc., the second-largest toy maker in the U.S., announced today that it will make and market toys and games based on Sesame Street characters.
The toy maker’s rival, Mattel Inc., makes Sesame Street toys with its Fisher-Price brand under a deal lasting until 2010. In 2011, Hasbro will start making the products in 2011, including the popular Tickle Me Elmo toy.
Financial terms of the deal, which permits Hasbro to make the merchandise for ten years, were not disclosed.
Hasbro shares rose 79 cents, or 2.6 percent, to $30.97 in morning trading.
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