According to a story in a major Newswire, Mattel stock jumped 8.5% in Wednesday's premarket after obtaining the right to create Cinderella, 'Frozen dolls' including Elsa and Anna, and other toys based on Disney's princess range.

Mattel had lost the license to Hasbro in 2016. Hasbro's stock dropped 2.7%, while Disney's stock rose 1.4%.

Mattel's stock has dropped roughly 29% in the last five years as a result of the loss of the business, which left a $440 million hole in its coffers.How Hasbro stole a march on Mattel to win the $500 million Disney princess  doll contract | Daily Mail Online

According to a major Newswire, Mattel will begin selling new Disney toys in 2023, and the company will be run by the same people who oversaw Barbie's resurrection.

WSJ quoted Mattel CEO Ynon Kreiz as saying, "It was an important priority, and it's something we worked hard to win." He told the newspaper that Mattel had demonstrated its ability to maintain evergreen trademarks that aren't reliant on major movies.

Hasbro will continue to produce Star Wars and Indiana Jones toys, according to the article, both of which are owned by Disney's Lucasfilm.