Marvel Entertainment

Marvel Entertainment, LLC (formerly Marvel Enterprises and Toy Biz, Inc., and marketed and stylized as MARVEL) is an American entertainment company founded in June 1998 and based in New York City, formed by the merger of Marvel Entertainment Group, Inc. and ToyBiz. The company is a wholly owned subsidiary of The Walt Disney Company, and is mainly known for its Marvel Comics, Marvel Animation, and Marvel Television units. Marvel Studios, formerly under the Marvel umbrella, became a subsidiary of The Walt Disney Studios, where it develops and produces a shared universe of films that shares continuity with some of the shows produced by the television unit.

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

Over the years, Marvel Entertainment has entered into several partnerships and negotiations with other companies across a variety of businesses. , 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 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 Entertainment Group
Marvel Entertainment Group, Inc. (Marvel or MEG), incorporated on 1986-12-2, and included Marvel Comics and Marvel Productions. That year, it was sold to New World Entertainment Ltd as part of the liquidation of Cadence Industries. 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 was 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 though 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 the direction of Perelman, which was passed up in dividends to Perlman's group of companies. Marvel acquired Panini Group, an Italian sticker-maker, and Heroes World Distribution, a regional distributor to comic-book shops, in 1994. It acquired trading card company SkyBox International in 1995.

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 the company's 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 didn't already own. He would then receive newly issued Marvel shares to maintain his 80 percent stake.

Separately, 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.

In December 1996, the Marvel group of companies filed for bankruptcy. 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 take control of the company's stock. Later, in June 1997, Icahn won the right to replace Marvel's board, including Perelman.

In December 1997, during the post-bankruptcy reorganization phase, Toy Biz came to an agreement to purchase Marvel from the banks. In December 1997, the bankruptcy court appointed a trustee to oversee the company in place of Ichan. 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.

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

Divisions

 * Marvel Custom Solutions, customized comic books
 * Marvel Games (the division utilized for video game promotion and licensing of Marvel intellectual properties to video game publishers).
 * Marvel Television (2010–) television production division

Subsidiaries

 * Asgard Productions LLC (Delaware)
 * Cover Concepts, Inc.
 * Green Guy Toons LLC (Delaware)
 * Marvel Animation, Inc. (2008–): 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 Entertainment International Limited (United Kingdom)
 * Marvel Internet Productions LLC (Delaware)
 * Marvel Toys Limited (Hong Kong)
 * Marvel Worldwide, Inc., publisher of Marvel Comics
 * MRV, Inc. (Delaware)
 * MVL International C.V. (The Netherlands)
 * MVL Film Finance LLC: holder of Marvel's Movie debt and theatrical film rights to the twelve characters and supporting characters as collateral.
 * MVL Iron Works Productions Canada, Inc. (Province of Ontario)
 * MVL Incredible Productions Canada, Inc. (Province of Ontario)
 * Squad Productions LLC (Delaware)


 * 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 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. (? –2011): 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
Marvel New Media (also called Marvel Digital) unit consists of the company's 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+.


 * 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  (TBA) 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 (November 12, 2019—) for Disney+; is hosted by Joe Quesada, CCO 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

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–present) Chief Creative Officer
 * 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