Toymaker Hasbro Inc. (HAS) has captured Spider-Man, Fantastic Four, X-Men and Captain America from a much smaller rival for $205 million.

Through a five-year licensing agreement, Hasbro snatched the rights to produce toys and games based on media company Marvel Entertainment Inc.'s (MVL) stable of more than 5,000 characters, the companies said on Monday.

The previous licensee was privately held Toy Biz Worldwide Ltd.

Shares of Hasbro rose nearly 4 percent, while Marvel gained 2 percent.

"Hasbro is getting a pretty rich collection of characters proven to be salesworthy," said Harris Nesbitt analyst Sean McGowan, who noted that the deal helps the company present a clearer picture of how it could increase sales and earnings.

But the agreement could possibly prove risky, McGowan said, as toy sales linked to movies can be difficult to predict.

Hasbro said the deal would help boost revenue in some of its categories.

Marvel ended its licensing agreement with Toy Biz a year early to take the deal with Hasbro.

Although Hasbro will pay lower fees and royalty payments, Marvel said in a separate statement that it expected the licensee's global marketing, promotion and distribution strengths to boost future toy sales.

The license gives Hasbro, which is known for its Star Wars products and games that include Candy Land, the rights to bring Marvel Entertainment-based toy products to retail beginning January 1, 2007.

The license can be extended past the five-year term, depending on the number of other entertainment properties released during that time.

The license guarantees Marvel $205 million in royalty and service fee payments. Of that, $70 million would be payable upon the theatrical release of "Spider-Man 3," which is scheduled for May 4, 2007, and $35 million at "Spider-Man 4"'s release.

"We are very pleased with this deal as it provides Hasbro with incremental revenues in high-margin categories and allows us to maintain an appropriate balance in our portfolio of core brands and strategic licenses," Hasbro Chief Financial Officer David Hargreaves said in a statement.

Marvel will record a one-time cash charge of $13 million to $16 million in the just-ended fourth quarter for the early termination of its deal with Toy Biz.

In November, Marvel had said 2006 would be a difficult for both toys and licensing. It forecast profit of $38 million to $53 million for the year.

Marvel shares were up 33 cents at $17.02 in midday New York Stock Exchange trade, while Hasbro gained 75 cents to $20.74.