Is Power Rangers 2 happening or not? We're definitely getting a new movie, but whether or not it's a direct sequel is a little foggy at this point. A new Power Rangers movie is officially in development from Hasbro. The toy company recently purchased Power Rangers, as well as several other properties, in a massive $520 million deal. That has put the future of the franchise in new hands and Hasbro isn't wasting too much time getting the ball rolling. Now, thanks to a new report, it's been confirmed that they are in the early stages of developing what is described as a follow-up to 2017's Power Rangers.

The news comes from Hasbro CEO Brian Goldner, who was providing a general update on how the company is handling Power Rangers as the transition gets going. Goldner revealed that there will be a "transitional" period starting in 2019 where they will release "new entertainment content and licensed products." He also revealed that Power Rangers will generate a profit similar to that of their other franchise brands, but that this one has a "significant opportunity for growth given where the brand had been most recently."

Part of that growth will come in the form of another big screen movie, as it is being reported that "Hasbro will work with a film studio to develop a new Power Rangers movie as a follow-up to the 2017 release." That wording is quite specific, but also frustratingly vague. Hasbro has a major deal with Paramount Pictures, which now has Allspark Pictures developing movies using the toy company's catalog of merchandise. That now includes Power Rangers. The previous Power Rangers movie was made with Lionsgate. While it's said that this is a follow-up it doesn't explicitly say much else, leaving it up to speculation for now as to what form that could take. It could very well be a soft reboot of some kind. At this point, it's difficult to say.

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The fact of the matter is that Hasbro would be building off of something that wasn't terribly successful, if they actually wanted to make Power Rangers 2. The movie grossed just $144 million, working from a $100 million budget. It also sits at a measly 45 percent on Rotten Tomatoes, meaning that it wasn't some critical darling that was tragically ignored by the moviegoing masses. Looking at the numbers at least, a reboot of some kind might make more sense. The entire Power Rangers TV series is predicated on the idea of constant soft reboots that introduce entirely new casts that exist in the same universe. Hasbro could do something similar on the movie side of things.

Last year's Power Rangers movie absolutely set up a sequel and teased the arrival of the Green Ranger in a movie that didn't get going in the wake of the box office results. Hasbro is now in control and they're going to want to capitalize on their investment. Whatever form that ultimately takes, fans can rest easy knowing that there is more mighty morphin action on the way. We'll be sure to keep you up to date as more details on the project are made available. This news comes to us courtesy of Licensing.org

Ryan Scott