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Strategies & Market Trends : Playmates Toys Holdings, Ltd. .......Cowabunga!
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To: wooden ships who wrote (30)2/16/1997 11:27:00 AM
From: wooden ships   of 43
 
The plot thickens as Galoob Toys stumbles. The maker of some of the
world's cheesiest toys is under review.

Begin Reuters story:
Wednesday February 12 6:27 AM EST

Galoob Stock Down on Star Wars License Reports

LOS ANGELES (Reuter) - The stock of Galoob Toys Inc. fell sharply on reports that Lucasfilm Ltd. had invited Galoob's competitors Mattel Inc. and Playmates Toys Holdings Ltd. to bid for the license on Star Wars movie toys.

Galoob was off $4 at $13 in trading Tuesday on the New York Stock Exchange.

The Star Wars toys are expected to generate sales of $500 million this year, according to industry estimates.

Two weeks after its re-release, "Star Wars" has become the second highest-grossing movie at U.S. box office, and is expected to pass the $399.8 million record of the 1982 movie "E.T. The Extraterrestrial" by this coming weekend, according to studio estimates.

Toy industry executives are gathering in New York this week for Toy Fair. Mattel, Galoob, LucasFilm were unavailable for comment.

"Mattel has been invited to bid on Star Wars property," said one analyst, adding, "Galoob and Hasbro were the only two that historically have had those toy properties, which is why Galoob is down."

(c) Reuters
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