Mega shares spike on Thomas news

Shares in Mega Brands rose 45 per cent on the back of its new Thomas and Friends licensing deal.
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The company's shares, which have fallen about 90 per cent in the past 11 months on disappointing results and the lingering effects of a costly toy recall, were up 45.5 per cent at 56 Canadian cents on the Toronto Stock Exchange.

The multi-year, global agreement, gives it the rights to develop all-new construction toy sets based on the characters of Thomas & Friends books and TV.

Mega Brands Vice-President of Marketing Harold Chizick said "the impact to the business will be millions of dollars".

"It is a global deal and it's the number one pre-school property. The Thomas franchise sells billions of dollars in product around the world."

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