Safe Harbor Ep 1: Mighty Morphin Power Rangers

The source from where things flow

In 2001, Haim Saban sold the Fox Family Channel to Disney for $5.3 billion.

Saban grew up in Alexandria, Egypt, and made his first money by composing cartoon soundtracks for shows like Inspector Gadget and He-Man.

In 1985, while on a business trip to Japan, he stumbled on a show in his hotel room called Super Sentai, about five teenagers in spandex fighting rubber monsters.

He spent the next eight years trying to sell an American version. Fox Kids finally said yes in 1993.

Mighty Morphin Power Rangers became one of the biggest children’s franchises in television history.

The acting was terrible. The plots were predictable. And the fighting was mechanical. But I loved it. And so did millions of kids growing up in the early 1990s.

By the time of the Disney sale, Saban co-owned the company with News Corp. His personal gain came to roughly $1.5 billion, and the tax bill was more than $300 million.

Saban’s tax adviser knew a firm in Seattle that might be able to help…