MGA CEO says Mattel got fair offer for Bratz

By Aarthi Sivaraman

NEW YORK (Reuters) - MGA Entertainment made a "very fair and compelling settlement offer" to Mattel Inc to end a fight over the Bratz dolls that has locked both toymakers in a legal "nightmare," MGA's Chief Executive said on Friday.

The offer on February 9 was made through a mutually agreed upon mediator, who delivered the written settlement offer directly to Mattel MAT.N CEO Robert Eckert, said MGA CEO Isaac Larian in response to a comment by Eckert earlier in the day.

In the letter, MGA proposed that Mattel pay MGA "way below $500 million" to settle the legal tussle once and for all and let Mattel have the whole line, Larian said.

But so far, MGA has not received a response or counter-proposal, Larian added.

Mattel was not immediately available for comment.

In a conference call to discuss Mattel's quarterly results earlier, Eckert said he had not seen anything that made him conclude MGA sincerely wanted to resolve the issue.

"The ball is in their court," Larian told Reuters in an interview. "We offered this letter to just get out of this ... and move on with our lives. I am 55-years-old and I've been living this nightmare since 2004."

Mattel launched the legal battle over Bratz in 2004.