The Mighty Morphin Power Rangers. Picture: Instagram

Hasbro has bought the rights to the 'Power Rangers' franchise for R6.5 billion.

The eye-watering acquisition by the world's biggest toymaker could have major implications for the film franchise, which includes the 2017 'Power Rangers' movie that featured the likes of Dacre Montgomery, Naomi Scott and RJ Cyler.

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The world-famous brand is being sold by entrepreneur Haim Saban - who created it 25 years ago - in a deal that also includes a number of other assets, including the TV series 'My Pet Monster', 'Popples', and 'Julius Jr'.

The original 'Power Rangers' TV show - which was inspired by a holiday Saban took in Japan - was launched in 1993 and proved to be a huge global success.

Since then, the brand has branched out into other areas, including toys and three 'Power Rangers' films.

Brian Casentini, the senior vice-president of Saban Brands, previously explained why the characters have proven to be so popular with young children.

In 2014, he shared: "These are in a full costume, including a helmet.

"It's far easier for a child to project themselves into that costume and imagine themselves as a Power Ranger than it is with Superman.

"It's something that a young child can watch and not be frightened of. The monsters are wackier, they're in rubber costumes, it's not as threatening as some of the older superhero shows. We do that by design.

"We can't fight the natural progression that occurs with a child. What we can do is try to tell stories that resonate as old as we can get. Our core audience is four to eight and then they graduate and move on. Power Rangers fundamentally remains every child's entry point into the superhero genre."