Marvel Entertainment

**Marvel Entertainment, LLC** (formerly **Marvel Enterprises** and **Toy Biz, Inc.**) is an American entertainment company founded in June 1998 and based in New York City, formed by **Marvel Entertainment Group's merger Inc.** and ToyBiz. The company is a wholly-owned subsidiary of The Walt Disney Company and is mainly known for its comic books by Marvel Comics and its forays into films, including those within the Marvel Cinematic Universe.

In 2009, The Walt Disney Company acquired Marvel Entertainment for US$4 billion; it has been a limited liability company (LLC) since then. Marvel is primarily reported as part of Disney's Consumer Products segment for financial reporting purposes ever since Marvel Studios' reorganization from Marvel Entertainment into Walt Disney Studios.

Over the years, Marvel Entertainment has entered into several partnerships and negotiations with other companies across various businesses. As of 2019, Marvel has film licensing agreements with Sony Pictures (for Spider-Man films) and Universal Pictures (a right of first refusal to pick up the distribution rights to any future Hulk films produced by Marvel Studios), and theme park licensing agreements with IMG Worlds of Adventure and Universal Parks & Resorts (for specific Marvel character rights at Universal's Islands of Adventure and Universal Studios Japan). Aside from their contract with Universal Parks & Resorts, Marvel's characters and properties have also appeared at Disney Parks.

## Marvel Property, Inc.

### **Predecessor**

Marvel Comics Group
Cadence Industries

### **Founded**

01986-12-02-0000December 2, 1986; 34 years ago

### **Defunct**

01998-06-02-0000June 2, 1998; 22 years ago

### **Products**

Animated series
Books
Comics

### **Parent**

Cadence Industries (1986)
New World Pictures (1986–1989)
Andrews Group (1989–1993)
Marvel Holdings, Inc. (1994–1997)
Icahn Enterprises (1997)

### **Divisions**

Marvel Films (1993–1996)
Marvel Enterprise (1997–1998)

### **Subsidiaries**

Marvel Productions (1986–1989)
Fleer (1992–1998)
ToyBiz (1993–1998)
Heroes World Distribution (1994–1996)
Panini (1994–1998)
SkyBox International (1995–1998)
Marvel Studios (1996–1998)

Marvel Entertainment Group, Inc. (Marvel or MEG), incorporated on 01986-12-02-0000December 2, 1986, and included Marvel Comics and Marvel Productions. That year, it sold to New World Entertainment Ltd as part of Cadence Industries' liquidation. On January 6, 1989, Ronald Perelman's MacAndrews & Forbes Holdings bought Marvel Entertainment Group from New World for $82.5 million. The deal did not include Marvel Productions, which folded into New World's TV and movie business.

"It is a mini-Disney in terms of intellectual property," said Perelman. "Disney's got much more highly recognized characters and softer characters, whereas our characters are termed action heroes. But at Marvel we are now in the business of the creation and marketing of characters."

#### Public offering and acquisition

Marvel made an initial public offering of 40% of the stock (ticker symbol NYSE: MRV) on July 15, 1991, giving $40 million from the proceeds to Andrews Group, Marvel's then direct parent corporation within MacAndrews & Forbes Holdings.

In the early 1990s, Marvel Entertainment Group began expanding through acquisitions and the formation of new divisions. Marvel purchased the trading card company Fleer, on July 24, 1992. On April 30, 1993, Marvel acquired 46% of ToyBiz, which gave the company the rights to make Marvel toys. The Andrews Group named Avi Arad of ToyBiz as the president and CEO of the Marvel Films division.

In 1993 and 1994, Marvel's holding companies, Marvel Holdings, Inc. and Marvel Parent Holdings, Inc., were formed between Andrews Group and MEG. The companies issued over half a billion dollars in bonds under Perelman's direction, which passed up in dividends to Perelman's companies' group. On July 5, 1994, Marvel acquired Panini Group, an Italian sticker-maker, followed by Malibu Comics on November 3 and Heroes World Distribution, a regional distributor to comic-book shops, in December. On March 10, 1995, It acquired trading card company SkyBox International and was completed later in May. Marvel's attempt to distribute its products directly led to a decrease in sales and aggravated the losses which Marvel suffered when the comic book bubble popped, the 1994 Major League Baseball strike massacred the profits of the Fleer unit, and Panini, whose revenue depended largely on Disney licensing, was hobbled by poor Disney showings at the box office.

#### Bankruptcy and Marvel Studios

In late 1995, Marvel reported its first annual loss under Perelman, which was attributed mainly to its large size and a shrinking market. On January 4, 1996, Marvel laid off 275 employees.

In late 1996, Perelman proposed a plan to save Marvel in which the company would merge with Toy Biz after Perelman spent $350 million for the Toy Biz shares that he did not already own. He would then receive newly issued Marvel shares to maintain his 80 percent stake.

In July 1996, Marvel filed with the U.S. Securities and Exchange Commission to raise money to create a private entity called Marvel Studios. Much of the money to create Marvel Studios came from the sale of Toy Biz stock.

On December 27, 1996, the Marvel group of companies filed for Chapter 11 bankruptcy protection. At this time, Carl Icahn, an American businessman and investor, began buying Marvel's bonds at 20% of their value and moved to block Perelman's plan. In February 1997, Icahn won the bankruptcy court's approval to control the company's stock. Later, in June 1997, Icahn won the right to replace Marvel's board, including Perelman.

In December 1997, Toy Biz agreed to purchase Marvel from the banks during the post-bankruptcy reorganization phase. In December 1997, the bankruptcy court appointed a trustee to oversee the company in place of Icahn. In April 1998, while the legal battle continued, the NYSE delisted Marvel stock.

In August 2008, former company head Ronald Perelman paid $80 million to settle a lawsuit accusing him of helping divert $553.5 million in notes when he controlled the company.

### Marvel Enterprises

ToyBiz and Marvel Entertainment Group were merged into Marvel Enterprises to bring it out of bankruptcy on June 2, 1998. In February 1999, Fleer/Skybox sold to a corporation owned by Alex and Roger Grass, a father and son, for US$30 million.

Later, they challenged the rights to names like "Spider-Man." Toy Biz hired an attorney to review its license agreement. Los Angeles patent attorney Carole E. Handler found a legal loophole in the Marvel name is licensing and was successful in reclaiming Marvel Enterprises' movie rights to its character Spider-Man.

Marvel Enterprise organized itself into four central units, Marvel Studios, Toy Biz, Licensing and Publishing, while in November 1999, Marvel Characters Group managed Marvel's IP and oversaw marketing. Marvel named its Marvel New Media president, Steve Milo, in November 2000 to oversee its website.

In 2003, Bill Stine purchased back Quest Aerospace, a 1995 Toy Biz acquisition, from Marvel. In summer 2003, Marvel placed an offer for Artisan Entertainment. A new unit, Marvel International, was set up in London under a president, Bruno Maglione, to extend the company's operation and presence in major overseas markets in November 2003. In December 2003, Marvel Entertainment acquired Cover Concepts from Hearst Communications, Inc. In November 2004, Marvel consolidated its children's sleepwear-apparel licensing business with American Marketing Enterprises, Inc.

In November 2004, the corporation sued South Korea-based NCSoft Corp. and San Jose, California-based Cryptic Studios Inc. over possible trademark infringement in their *City of Heroes* massively multiplayer online game. Marvel settled a film-royalties lawsuit in April 2005 with its former editor-in-chief, publisher and creator, Stan Lee, paying him $10 million and negotiating an end to his royalties.

### Marvel Entertainment

In September 2005, Marvel Enterprises changed its name to Marvel Entertainment to reflect its expansion into financing its movie slate.

In 2007, several Stan Lee Media related groups filed lawsuits against Marvel Entertainment for $1 billion and Lee's Marvel creations in multiple states, most of which they dismissed. Additionally, a lawsuit over ownership of the character Ghost Rider was filed on March 30, 2007, by Gary Friedrich and Gary Friedrich Enterprises, Inc.

#### Disney subsidiary (2009–present)

On August 31, 2009, The Walt Disney Company announced a deal to acquire Marvel Entertainment for $4 billion, with Marvel shareholders to receive $30 and approximately 0.745 Disney shares for each share of Marvel they own. The voting occurred on December 31, 2009, and the merger was approved. Marvel's acquisition was finalized hours after the shareholder vote, therefore giving Disney full ownership of Marvel Entertainment. The company was delisted from the New York Stock Exchange under its ticker symbol (MVL) due to the deal's closing.

On June 2, 2010, Marvel announced that it promoted Joe Quesada to Marvel Entertainment's Chief Creative Officer, and later, Marvel set up a television division headed by Jeph Loeb as executive vice president. Three months later, Smith & Tinker licensed from Marvel the character rights for a superhero digital collectible game for Facebook and Apple's mobile platform. On October 1, 2010, Marvel moved its offices to a 60,000-square-foot (5,600 m2) suite at 135 W. 50th Street, New York City, New York, under a nine-year sublease contract.

Stan Lee Media's lawsuit against Marvel was dismissed again in February 2011.

In March 2013, Feld Entertainment agreed with Marvel to produce a Marvel Character-based live arena show. Marvel was also launching a new pop culture and lifestyle web show, "Earth's Mightiest Show." On August 22, 2013, Marvel Entertainment announced working with Hero Ventures on The Marvel Experience, a travelling production/attraction. In April 2014, Hong Kong Disneyland announced the Iron Man Experience's construction, the first Marvel ride at any Disney theme park. It opened in 2017 and was in the park's Tomorrowland.

On September 16, 2009, the Jack Kirby estate served notices of termination to Walt Disney Studios, 20th Century Fox, Universal Pictures, Paramount Pictures, and Sony Pictures to attempt to control various Silver Age Marvel characters. Marvel sought to invalidate those claims. In mid-March 2010, Kirby's estate "sued Marvel to terminate copyrights and gain profits from [Kirby's] comic creations." In July 2011, the United States District Court for the Southern District of New York issued a summary judgment favouring Marvel, which was affirmed in August 2013 by the United States Court of Appeals for the Second Circuit. The Kirby estate filed a petition on March 21, 2014, to review a case by the Supreme Court of the United States, but they reached a settlement on September 26, 2014, and the family requested that they dismiss the petition.

Marvel president of TV, publishing and brand Dan Buckley was promoted to Marvel Entertainment president in January 2017, adding games, global brand management and the franchise groups to his current responsibilities. In October 2017, Ron Richards began working at Marvel Entertainment as vice president and Managing Editor of New Media. Marvel New Media expanded into a new field with the development of a scripted podcast series, *Wolverine: The Long Night*, announced on December 5, 2017. Marvel and SiriusXM announced on October 22, 2019, a multi-year deal for scripted and unscripted podcast series and themed live events.

Marvel Entertainment announced a new pre-school franchise, Marvel Super Hero Adventures, in September 2017, consisting of a short-form animated series and publishing and merchandise during "Marvel Mania" October. On December 7, 2017, Marvel announced its *Marvel Rising* franchise focusing on new characters as youngsters starting with animation in 2018. Marvel Comics is expected to publish material for Marvel Rising but delayed any announcement on their material.

In May 2018, The Walt Disney Company Australia purchased eight-year naming rights to Docklands Stadium from Melbourne Stadiums Limited and selected the Marvel brand as part of the name. Since September 1, 2018, the stadium has been known commercially as Marvel Stadium. They added a Marvel retail store and other inclusion of Marvel to the stadium.

In October 2019, Marvel Studios' Kevin Feige was named Marvel Chief Creative Officer, overseeing all the creative affairs within Marvel Entertainment in addition to Marvel Studios. Under the structure, Marvel Television and Marvel Family Entertainment (animation) moved to Marvel Studios, with Marvel Entertainment president Dan Buckley reporting to Feige. With the December 2019 announcement of folding of Marvel TV into Marvel Studios came the dismissal of executives of vice president level and above in TV and animation under Feige, plus the removal of Brian Crosby as creative director of Themed Entertainment for Marvel Entertainment.

## Units

The company's operating units, as of 2015, include:

* Marvel Custom Solutions division, customized comic books
* Marvel Brands, LLC
	+ Marvel Games, the division utilized for video game promotion and licensing of Marvel intellectual properties to video game publishers.
* Cover Concepts, Inc.
* Marvel Worldwide, Inc., publisher of Marvel Comics

### Intellectual property holding companies

* Iron Works Productions LLC, movie rights subsidiary
* Incredible Productions LLC (Delaware), movie rights subsidiary
* Marvel Characters, Inc.: subsidiary holding general rights of all Marvel Comics characters
	+ MVL Rights, LLC: subsidiary holding Marvel Comics characters' movie rights (film slate contracted with MVL Film Finance LLC)
* Marvel Characters B.V. (The Netherlands)
* Marvel International Character Holdings LLC (Delaware)
* Marvel Property, Inc. (Delaware) incorporated 12/2/1986 (formerly Marvel Entertainment Group, Inc.)

### Former

* Marvel Toys, formerly **Toy Biz** (1984–2007)
* Marvel Merchandising department/Heroes World Distribution Co. (early 1970s–1975/1994–1996)
* Malibu Comics (1994–1997)
* Marvel Books division (c.1985)
* Marvel Comics Ltd. (1972–1995; UK subsidiary)
* Marvel Studios, LLC (1996–2015) formerly Marvel Films (1993–1996), a film and television production company; now a subsidiary of The Walt Disney Studios
	+ Marvel Films Animation – animation subdivision (1994–1997)
	+ Marvel Film Productions LLC (Delaware)
	+ MVL Development LLC (Delaware) rights subsidiary
* Marvel Television, Inc. (2010-2019) now a division of Marvel Studios.
	+ Marvel Animation, LLC. (2008-2019) Subsidiary charged with oversight of Marvel's animation productions.
		- MLG Productions (2006–2011), Marvel & Lionsgate's subsidiary group for Marvel Animated Features
		- Marvel Animation Studios
* Marvel Mania Restaurant (Marvel Restaurant Venture Corp.)
* Marvel Enterprise division
	+ Marvel Interactive
		- Online Entertainment (Marvel Zone)
		- Software Publishing
	+ Fleer Corporation
		- Panini Group: Italian sticker manufacturer
	+ SkyBox International
* Marvel Music Groups (1981–1989) music publishing subsidiary
* Marvel Productions (1981–1989)
* Mighty Marvel Music Corporation (1981–1989) music publishing subsidiary
* Spider-Man Merchandising, L.P. (2001–2013) A joint venture of Marvel and Sony Pictures Consumer Products Inc. that owned the rights to Spider-Man movie related licensed products.
* Welsh Publishing Group: children magazine publisher

## Marvel New Media

### **Key people**

Shane Rahmani (SVP and GM)
Ron Richards (VP and Managing Editor)
Dan Silver (VP, head of platforms and content)

### **Products**

Podcasts
Websites
Webcast

Marvel New Media (also called Marvel Digital) unit consists of its website, online video series and podcast. Digital shows under New Media are *THWIP! The Big Marvel Show*, *The Marvel Minute*, *Marvel LIVE!* and *Marvel Top 10*.

In October 2017, Ron Richards began working at Marvel Entertainment as vice president and Managing Editor of New Media, while Marvel Digital freelance on-air host Lorraine Cink was hired as Senior Creative Producer. Marvel New Media expanded into a new field with the development of a scripted podcast series, *Wolverine: The Long Night*, announced on December 5, 2017.

On April 7, 2018, at the Chicago Comic and Entertainment Expo, Marvel New Media announced its new slate. Marvel named Shane Rahmani as senior vice president and general manager of new media in March 2019. On April 10, 2019, a slate of 10 unscripted series, including two from Marvel New Media, was revealed for Disney+.

Marvel and SiriusXM announced on October 22, 2019, a multi-year deal for multiple scripted and unscripted podcast series for 2020 debuts. The first four scripted series feature Black Widow, Hawkeye, Star-Lord and Wolverine, which planned to lead to a fifth series featuring all four characters. The slate's unscripted podcasts would consist of talk shows, Marvel's history via a modern-day pop cultural view and popular Marvel franchises focused podcasts.

#### Webcasts

* *Earth's Mightiest Show* (March 2018–) A weekly variety web-series focusing on fandom and Marvel culture
* *Eat the Universe*
* *Marvel LIVE!*
* *The Marvel Minute*
* *Marvel Top 10* (2017–)
* *Marvel's Hero Project*  (November 12, 2019 – March 20, 2020) produced with Maggievision Productions for Disney+; documents youngsters effecting their local communities
* *Marvel's 616* working title (TBA) produced with Supper Club for Disney+; anthology documentary series feature the intersection between Marvel's stories, characters and creators and the real world
* *Marvel's Storyboards* (TBA) for Disney+; is hosted by Joe Quesada, creative director of Marvel Entertainment, where he interviews guests from various backgrounds to get to know their story with an expected around a dozen 10 to 15 minutes long episodes.
* *This Week in Marvel* (relaunch)
* *THWIP! The Big Marvel Show*
* *Women of Marvel* (June 2014–?; relaunched February 2018–) a female point of view of the comic industry

#### Podcasts

* *Marvel's Voices* (April 2018–) bi-weekly as a podcast and set of video clips, cultural topic interviews
* *Wolverine* podcast (2018–) 2 seasons on Stitcher: The Long Night, The Lost Trail
* *Marvels* (fall 2019) 10 episode series adapting the comic book with and on Stitcher
* *Black Widow* (2020) SiriusXM/Pandora
* *Hawkeye* (2020) SiriusXM
* *Star-Lord* (2020) SiriusXM
* *Wolverine* (2020) SiriusXM
* Untitled team up series (TBD) SiriusXM

## Executives

### Chairmen

* Ronald O. Perelman (January 6, 1989 – October 23, 1996)
* Scott M. Sassa (October 23, 1996 – June 20, 1997)
* Morton E. Handel (October 1, 1998 – December 31, 2009)
* Isaac Perlmutter (April 1993 – March 1995; January 1, 2017 – present)

### Vice Chairmen

* Terry Stewart (March 1995 – December 1995)
* Isaac Perlmutter (November 30, 2001 – December 31, 2009)
* Peter Cuneo (June 17, 2003 – December 31, 2009)

### CEOs

* William C. Bevins (1991 – October 23, 1996)
* Scott M. Sassa (October 23, 1996 – June 20, 1997)
* Joseph Calamari (June 23, 1997 – October 1, 1998)
* Joseph Ahearn (October 1, 1998 – November 25, 1998)
* Eric Ellenbogen (November 25, 1998 – July 20, 1999)
* F. Peter Cuneo (July 20, 1999 – December 31, 2002)
* Allen S. Lipson (January 1, 2003 – December 31, 2004)

#### Office of the Chief Executive

* Isaac Perlmutter (January 1, 2005 – December 31, 2016)
* Executive Vice Presidents:
	+ Alan Fine (April 2009 – ?)
	+ John Turitzin (September 2006 – ?)
	+ David Maisel (September 2006 – December 31, 2009)

### Presidents

* Stan Lee (1972–1973)
* Al Landau (1973–1975)
* Jim Galton (1975–1991)
* Terry Stewart (1992–1993)
* Rick Ungar (? – November 1993)
* Avi Arad (November 1993 – ?)
* Bruce Stein (? – November 1994)
* William Bevins Jr. (November 1994 – ?)
* Terry Stewart (May 1995)
* Jerry Calabrese (May 1995 – mid 1996; October 1998 – November 1998)
* Scott C. Marden (interim) (Mid 1996 – September 1996)
* David Schreff (September 1996 – ?)
* Joseph Calamari (? – October 1998)
* Eric Ellenbogen (November 1998 – July 1999)
* F. Peter Cuneo (July 1999 – January 1, 2003)
* Allen Lipson (January 1, 2003 – January 1, 2005)
* Alan Fine, President (2009–) also, chair of Marvel's Creative Committee
* Dan Buckley (January 2017 – present)

### Others

*See subsidiaries' articles for their executives.*
* Bill Jemas (February 2000 – October 2010) President of Publishing and Consumer Products
* Bruno Maglione, President of Marvel International, November 2003
* Joe Quesada (2010–2019) Chief Creative Officer (2019-present) Creative director
* Kevin Feige (2019–present) Chief Creative Officer, Marvel
* Bill Jemas
	+ Chief Operating Officer (January 2002 – October 2010)
	+ Chief Marketing Officer (October 2010 – late 2013)
* Guy Karyo (October 2010) Executive Vice President of Operations and Chief Information Officer

## Productions

### TV

#### Live-Action

For any live action television series created after 2009, see Marvel Television.

**Animated**

### Film

See also: List of films based on Marvel Comics
**Films**