Haim Saban Buys Julius the Monkey

Back in May we noted that billionaire media investor Haim Saban was launching Saban Brands to snap up existing properties that he could transform and turn into global moneymakers, as he has done with the Power Rangers.

This week Saban Brands made its first acquisition: Paul Frank Industries, the California-based owner of Julius the Monkey and a slew of related cute characters.

As Saban notes on his website, Paul Frank Industries isn't just aimed at kids. Julius and friends are popular with all ages and have been merchandised to the hilt, including "books, stationery, eyewear, home décor, bicycles and more."

From apparel to pet products to lip balm, the character-based lifestyle brand may be overly ubiquitous, and could benefit from some Sabanesque focusing and leverage. One area it's untapped, which Saban has a lot of experience with, is TV and video.

As for Paul Frank, the artist and namesake founder of the brand hasn't been associated with it since 2005, but he's still based in Los Angeles and designing.