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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.

Marvel Entertainment, LLC
Formerly
Marvel Enterprises (1998–2006)
Subsidiary
IndustryEntertainment
GenreSuperhero fiction
PredecessorToyBiz
Marvel Property, Inc.
FoundedJune 2, 1998; 21 years ago (1998-06-02)
Headquarters,
Area served
Worldwide
Key people
Products
ServicesLicensing
Number of employees
200-500[citation needed] (2019)
ParentThe Walt Disney Company
Divisions
Subsidiaries
Websitewww.marvel.com Edit this on Wikidata
Footnotes / references
[1]

In 2009, The Walt Disney Company acquired Marvel Entertainment for US$4 billion;[2] 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.[3]

Over the years, Marvel Entertainment has entered into several partnerships and negotiations with other companies across a variety of 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 Islands of Adventure and Universal Studios Japan).[4] Aside from their contract with Universal Parks & Resorts, Marvel's characters and properties have also appeared at Disney Parks.[5]

Contents

HistoryEdit

Marvel Entertainment GroupEdit

Marvel Property, Inc.
Formerly
Marvel Entertainment Group, Inc.
Subsidiary
Traded asNYSE:MRV
IndustryEntertainment
GenreSuperhero
FateBusiness operations merged with Toy Biz.
SuccessorMarvel Enterprises
FoundedDecember 2, 1986; 32 years ago (1986-12-02)
DefunctJune 2, 1998; 21 years ago (1998-06-02)
ProductsComics
ServicesLicensing
Parent
Divisions
Subsidiaries
Websitewww.marvel.com  
Footnotes / references
[6][7][1]

Marvel Entertainment Group, Inc. (Marvel or MEG), incorporated on December 2, 1986,[6] 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.[8] On January 6, 1989, Ronald Perelman's MacAndrews & Forbes Holdings bought Marvel Entertainment Group from New World for $82.5 million.[9] The deal did not include Marvel Productions, which was folded into New World's TV and movie business.[8]

"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."[1]

Public offering and acquisitionEdit

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.[9][10]

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.[9] On April 30, 1993, Marvel acquired 46% of ToyBiz, which gave the company the rights to make Marvel toys.[9] The Andrews Group named Avi Arad of ToyBiz as the president and CEO of the Marvel Films division.[11]

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.[12] 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.[9]

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[13][citation needed] popped, the 1994 Major League Baseball strike massacred the profits of the Fleer unit,[14] and Panini, whose revenue depended largely on Disney licensing, was hobbled by poor Disney showings at the box office.[15]

Bankruptcy and Marvel StudiosEdit

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. [9] On January 4, 1996 Marvel laid off 275 employees.[16]

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.[9]

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.[17] Much of the money to create Marvel Studios came from the sale of Toy Biz stock.[17][18]

In December 1996, the Marvel group of companies filed for bankruptcy.[1][9] 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.[9] In February 1997, Icahn won the bankruptcy court's approval to take control of the company's stock.[9] Later, in June 1997, Icahn won the right to replace Marvel's board, including Perelman.[9]

In December 1997, during the post-bankruptcy reorganization phase, Toy Biz came to an agreement to purchase Marvel from the banks.[1][9] In December 1997, the bankruptcy court appointed a trustee to oversee the company in place of Ichan.[9] In April 1998, while the legal battle continued, the NYSE delisted Marvel stock.[9]

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.[12]

Marvel EnterprisesEdit

ToyBiz and Marvel Entertainment Group were merged into Marvel Enterprises to bring it out of bankruptcy in June 1998.[1] In February 1999, Fleer/Skybox was sold to a corporation owned by Alex and Roger Grass, a father and son, for US$30 million.[19]

Later, the rights to names like "Spider-Man" were being challenged. Toy Biz hired an attorney to review its license agreement. Los Angeles patent attorney Carole E. Handler found a legal loophole in the licensing of the Marvel name and was successful in reclaiming Marvel Enterprises' movie rights to its character Spider-Man.[20][21][22]

Marvel Enterprise organized itself into four major units, Marvel Studios, Toy Biz, Licensing and Publishing, while in November 1999 adding Marvel Characters Group to manage Marvel's IP and oversee marketing.[23] Marvel named its Marvel New Media president, Steve Milo, in November 2000 to oversee its website.[24]

In 2003, Bill Stine purchased back Quest Aerospace, a 1995 Toy Biz acquisition, from Marvel.[25] In summer 2003, Marvel placed an offer for Artisan Entertainment.[26] 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.[27] In December 2003, Marvel Entertainment acquired Cover Concepts from Hearst Communications, Inc.[28] In November 2004, Marvel consolidated its children's sleepwear-apparel licensing business with American Marketing Enterprises, Inc.[29]

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 massive multiplayer online game.[30] 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.[31]

Marvel EntertainmentEdit

In September 2005, Marvel Enterprises changed its name to Marvel Entertainment to reflect the corporation's expansion into financing its own movie slate.[32][33]

In 2007, several Stan Lee Media related groups filed lawsuits against Marvel Entertainment for $1 billion and for Lee's Marvel creations in multiple states, most of which have been dismissed.[34] Additionally, a lawsuit over ownership of the character Ghost Rider was filed on March 30, 2007, by Gary Friedrich and Gary Friedrich Enterprises, Inc.[35]

Disney subsidiary (2009–present)Edit

On August 31, 2009, The Walt Disney Company announced a deal to acquire Marvel Entertainment for $4.24 billion, with Marvel shareholders to receive $30 and approximately 0.745 Disney shares for each share of Marvel they own.[36] The voting occurred on December 31, 2009 and the merger was approved.[2][37] The acquisition of Marvel was finalized hours after the shareholder vote, therefore giving Disney full ownership of Marvel Entertainment.[38] The company was delisted from the New York Stock Exchange under its ticker symbol (MVL), due to the closing of the deal.

On June 2, 2010 Marvel announced that it promoted Joe Quesada to Chief Creative Officer of Marvel Entertainment.[39] In June 2010, Marvel set up a television division headed by Jeph Loeb as executive vice president.[40] Three months later, Smith & Tinker licensed from Marvel the character rights for a superhero digital collectible game for Facebook and Apple's mobile platform.[41] 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.[42]

Stan Lee Media's lawsuit against Marvel was dismissed again in February 2011.[34][43]

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”.[44] On August 22, 2013, Marvel Entertainment announced that it was working with Hero Ventures on The Marvel Experience, a traveling production/attraction.[45] In April 2014, Hong Kong Disneyland announced the construction of Iron Man Experience, the first Marvel ride at any Disney theme park. It opened in 2017 and was built on a location in the park's Tomorrowland.[46]

On September 16, 2009,[47] 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 gain control of various Silver Age Marvel characters.[48][49] Marvel sought to invalidate those claims.[50][51] In mid-March 2010 Kirby's estate "sued Marvel to terminate copyrights and gain profits from [Kirby's] comic creations."[52] In July 2011, the United States District Court for the Southern District of New York issued a summary judgment in favor of Marvel,[47][53] which was affirmed in August 2013 by the United States Court of Appeals for the Second Circuit.[54] The Kirby estate filed a petition on March 21, 2014 for a review of the case by the Supreme Court of the United States,[55][56] but a settlement was reached on September 26, 2014 and the family requested that the petition be dismissed.[57]

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.[58] In October 2017, Ron Richards began working at Marvel Entertainment as Vice President and Managing Editor of New Media.[59] 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.[60]

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.[61]

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. A Marvel retail store and other inclusion of Marvel would be added to the stadium.[62]

UnitsEdit

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

DivisionsEdit

  • Marvel Custom Solutions, customized comic books[63]
  • Marvel Games (the division utilized for video game promotion and licensing of Marvel intellectual properties to video game publishers).

Marvel New MediaEdit

Marvel New Media
Headquarters
New York City
Key people
  • Shane Rahmani (SVP and GM)
  • Ron Richards
  • (VP and Managing Editor)
  • Dan Silver (VP, head of platforms and content)[60]
Products
Websitewww.marvel.com  

Marvel New Media (also called Marvel Digital)[64] unit consists of the company's website, online video series[59] and podcast.[60] Digital shows under New Media are THWIP! The Big Marvel Show, The Marvel Minute, Marvel LIVE! and Marvel Top 10.[64]

In October 2017, Ron Richards began working at Marvel Entertainment as Vice President and Managing Editor of New Media,[59] while Marvel Digital freelance on-air host Lorraine Cink was hired as Senior Creative Producer.[64] 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.[60]

On April 7, 2018 at the Chicago Comic and Entertainment Expo, Marvel New Media announced its new slate.[65] Marvel named Shane Rahmani as senior vice president and general manager of new media in March 2019.[66] On April 10, 2019, a slate of 10 unscripted series including two from Marvel New Media was revealed for Disney+.[67]

Webcasts
  • Earth's Mightiest Show (March 2018—) A weekly variety web-series focusing on fandom and Marvel culture[65]
  • Eat the Universe [65]
  • Marvel LIVE![64]
  • The Marvel Minute[64]
  • Marvel Top 10 (2017-) [64]
  • Marvel's Hero Project (TBA) produced with Maggievision Productions for Disney+; documents youngers effecting their local communities[67]
  • 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[67]
  • This Week in Marvel (relaunch)[65]
  • THWIP! The Big Marvel Show[64]
  • Women of Marvel (June 2014—?; relaunched February 2018—) a female point of view of the comic industry[65]
Podcasts
  • Marvel's Voices (April 2018—) bi-weekly as a podcast and set of video clips, cultural topic interviews[65]
  • Wolverine podcast[60] (2018—) 2 seasons: The Long Night, The Lost Trail[68]
  • Marvels (fall 2019) 10 episode series adapting the comic book with and on Sticker[68]

SubsidiariesEdit

  • Asgard Productions LLC (Delaware)
  • Cover Concepts, Inc.[28]
  • Green Guy Toons LLC (Delaware)
  • Marvel Entertainment International Limited (United Kingdom)
  • Marvel Film Productions LLC (Delaware)
  • Marvel Internet Productions LLC (Delaware)
  • Marvel Television (2010–) television production division[69]
  • 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.[7][74]
  • MVL Iron Works Productions Canada, Inc. (Province of Ontario)
  • MVL Incredible Productions Canada, Inc. (Province of Ontario)
  • Squad Productions LLC (Delaware)[75]
Intellectual property holding companies
  • Iron Works Productions LLC, movie rights subsidiary
  • Incredible Productions LLC (Delaware), movie rights subsidiary[7]
  • 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)[76][77]
  • Marvel Characters B.V. (The Netherlands)
  • Marvel International Character Holdings LLC (Delaware)
  • Marvel Property, Inc. (Delaware) incorporated 12/2/1986[6] (formerly Marvel Entertainment Group, Inc.[7])
  • MVL Development LLC (Delaware), rights subsidiary

FormerEdit

ExecutivesEdit

ChairmenEdit

Vice ChairmenEdit

CEOsEdit

Office of the Chief Executive

PresidentsEdit

  • Stan Lee (1972–1973)[98][99]
  • Al Landau (1973–1975)
  • Jim Galton (1975–1991)[100]
  • Terry Stewart (1992[101]-1993[102])
  • Rick Ungar (?–November 1993)
  • Avi Arad (November 1993–?)[103]
  • Bruce Stein (?–November 1994)
  • William Bevins Jr. (November 1994–?)[104]
  • Terry Stewart (May 1995)[86]
  • Jerry Calabrese (May 1995–mid 1996) & (October 1998–November 1998)[86]
  • Scott C. Marden (interim) (Mid 1996–September 1996)[86]
  • David Schreff (September 1996–?)[86]
  • Joseph Calamari (?–October 1998)[86]
  • Eric Ellenbogen (November 1998–July 1999)[86]
  • F. Peter Cuneo (July 1999[86]–January 1, 2003)
  • Allen Lipson (January 1, 2003 – January 1, 2005)[92]
  • Alan Fine, President (2009–)[105] also, chair of Marvel's Creative Committee[95]
  • Dan Buckley (January 2017–[58]present)[106][107]

OthersEdit

See subsidiaries' articles for their executives.
  • Bill Jemas (February 2000–October 2010) President of Publishing and Consumer Products[108]
  • Bruno Maglione, President of Marvel International, November 2003[27]
  • Joe Quesada (2010–present) Chief Creative Officer
  • Bill Jemas
    • Chief Operating Officer (January 2002–October 2010)
    • Chief Marketing Officer (October 2010[108]–late 2013)[109]
  • Guy Karyo (October 2010) Executive Vice President of Operations and Chief Information Officer[108]

ProductionsEdit

TVEdit

Live-Action

Series Aired Production Distributor Original Network
Generation X February 20, 1996 (pilot) MT2 Services, Inc.

Marvel Films[110]

New World Television Production

Fox Films

New World Entertainment Fox[111]
Blade: The Series June 28, 2006 – September 13, 2006 Phantom Four
New Line Television
Marvel Entertainment Spike

Animated

Series Aired Production Distributor Network Episodes
Spider-Man: The New Animated Series July 11 – September 12, 2003 Sony Pictures Television MTV 13
The Spectacular Spider-Man March 8, 2008 - November 18, 2009
Sony Pictures Television The CW
Disney XD
26

FilmEdit

Films

Year Film Directed by Written by Produced / Distributed by Budget Gross
1998 Blade Stephen Norrington David S. Goyer New Line Cinema $40 million $131.2 million
2000 X-Men Bryan Singer Story by Tom DeSanto & Bryan Singer
Screenplay by David Hayter
20th Century Fox $75 million $296.3 million
2002 Blade II Guillermo del Toro David S. Goyer New Line Cinema $54 million $155 million
Spider-Man Sam Raimi David Koepp Columbia Pictures $139 million $821.7 million
2003 Daredevil Mark Steven Johnson 20th Century Fox $78 million $179.2 million
X2 Bryan Singer Story by Zak Penn and David Hayter & Bryan Singer
Screenplay by Michael Dougherty & Dan Harris and David Hayter
$110 million $407.7 million
Hulk Ang Lee Story by James Schamus
Screenplay by John Turman and Michael France and James Schamus
Universal Pictures $137 million $245.4 million
2004 The Punisher Jonathan Hensleigh Jonathan Hensleigh and Michael France Lionsgate Films / Artisan Entertainment $33 million $54.7 million
Spider-Man 2 Sam Raimi Story by Alfred Gough & Miles Millar and Michael Chabon
Screenplay by Alvin Sargent
Columbia Pictures $200 million $783.8 million
Blade: Trinity David S. Goyer New Line Cinema $65 million $128.9 million
2005 Elektra Rob Bowman Zak Penn and Stuart Zicherman & Raven Metzner 20th Century Fox $43 million $56.7 million
Man-Thing Brett Leonard Han Rodionoff Lionsgate Films / Artisan Entertainment $30 million $1.1 million
Fantastic Four Tim Story Mark Frost and Michael France 20th Century Fox $100 million $330.6 million
2006 X-Men: The Last Stand Brett Ratner Simon Kinberg & Zak Penn $210 million $459.4 million
2007 Ghost Rider Mark Steven Johnson Columbia Pictures $110 million $228.7 million
Spider-Man 3 Sam Raimi Screenplay by Sam Raimi & Ivan Raimi and Alvin Sargent
Story by Sam Raimi & Ivan Raimi
$258 million $890.9 million
Fantastic Four: Rise of the Silver Surfer Tim Story Screenplay by Don Payne and Mark Frost
Story by John Turman and Mark Frost
20th Century Fox $130 million $289 million
2008 Punisher: War Zone Lexi Alexander Nick Santora and Art Marcum & Matt Holloway Lionsgate Films $35 million $10.1 million
2009 X-Men Origins: Wolverine Gavin Hood David Benioff and Skip Woods 20th Century Fox $150 million $373.1 million
2011 X-Men: First Class Matthew Vaughn Screenplay by Ashley Edward Miller, Zack Stentz and Jane Goldman & Matthew Vaughn
Story by Sheldon Turner and Bryan Singer
$140–$160 million $353.6 million
2012 Ghost Rider: Spirit of Vengeance Mark Neveldine and Brian Taylor Screenplay by Scott M. Gimple and Seth Hoffman & David S. Goyer
Story by David S. Goyer
Columbia Pictures $57 million $132.6 million
The Amazing Spider-Man Marc Webb Screenplay by James Vanderbilt, Alvin Sargent and Steve Kloves
Story by James Vanderbilt
$230 million $757.9 million
2013 The Wolverine James Mangold Christopher McQuarrie and Mark Bomback 20th Century Fox $120 million $414.8 million
2014 X-Men: Days of Future Past Bryan Singer Screenplay by Simon Kinberg
Story by Matthew Vaughn, Jane Goldman & Simon Kinberg
$200 million $747.9 million
2015 Fantastic Four Josh Trank Jeremy Slater, Seth Grahame-Smith, T.S. Nowlin & Simon Kinberg $120 million $168 million
2016 Deadpool Tim Miller Rhett Reese and Paul Wernick $58 million $782.3 million
X-Men: Apocalypse Bryan Singer Simon Kinberg, Dan Harris and Michael Dougherty $178 million $534.5 million
2017 Logan James Mangold Screenplay by Michael Green, Scott Frank and James Mangold
Story by David James Kelly & James Mangold
$97 million $612.4 million
2018 Deadpool 2 David Leitch Rhett Reese, Paul Wernick and Ryan Reynolds $110 million $785 million
Venom Ruben Fleischer Scott Rosenberg, Jeff Pinkner, Kelly Marcel and Will Beall Columbia Pictures $100 million $855 million
Spider-Man: Into the Spider-Verse Bob Persichetti, Peter Ramsey and Rodney Rothman Screenplay by Phil Lord and Rodney Rothman
Story by Phil Lord
Columbia Pictures / Sony Pictures Animation $90

million

$352 million
2019 Dark Phoenix Simon Kinberg 20th Century Fox $200 million
Upcoming
2020 The New Mutants Josh Boone Josh Boone and Knate Lee 20th Century Fox
Morbius Daniel Espinosa Burk Sharpless and Matt Sazama Columbia Pictures


Video gamesEdit

See alsoEdit

ReferencesEdit

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