Marvel Entertainment
In January 2006, Marvel Entertainment signed a five-year licensing agreement with Hasbro Inc. for $205 million, giving Hasbro the right to make toys and games based on Marvel Comic licenses. As a result of this, Marvel Entertainment prematurely terminated its agreement with Toy Biz Worldwide Ltd, by a year. As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide a penalty of between $13–16 million USD. Marvel Entertainment officially stopped using the "Toy Biz" branding and name from January 1, 2007, and the division was rebranded as Marvel Toys.