Marvel Entertainment

Marvel Entertainment, LLC (formerly Marvel Entertainment, Inc. and Marvel Enterprises, Inc.) was an American entertainment company founded on June 2, 1998 and based in New York City, formed by the merger of Marvel Entertainment Group and Toy Biz. The company was a wholly owned subsidiary of the Walt Disney Company from December 31, 2009 until its dissolution on March 29, 2023, and was mainly known for consumer products, licensing, and comic books by Marvel Comics, as well as its early forays into films and television series, including those within the Marvel Cinematic Universe (MCU).

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

Over the years, Marvel Entertainment entered into several partnerships and negotiations with other companies across a variety of businesses. As of 2025^[update], Marvel has film licensing agreements with Sony Pictures via Columbia Pictures (for Spider-Man films) and theme park licensing agreements with IMG Worlds of Adventure and Universal Destinations & Experiences (for specific Marvel character rights at Islands of Adventure). Aside from their contract with Universal Destinations & Experiences, Marvel's characters and properties have also appeared at Disney Parks.

On March 29, 2023, Marvel Entertainment's remaining units were folded into Disney's other divisions.

Marvel Entertainment Group, Inc. (or MEG), incorporated on December 2, 1986, 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 television 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."

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.