Marvel Entertainment Group was put up for sale as part of the liquation of its then parent corporation, Cadence Industries and sold in 1986 to New World Pictures. New World planned to use Marvel as a source for movies. However cash flow problems for New World forced them to place MEG up for sale. In 1989, Ronald Perelman's MacAndrews & Forbes Holdings group of companies bought Marvel Entertainment Group from New World for $82.5 million not including 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."
Marvel made an initial public offer of 40% of the stock (ticker symbol NYSE:MRV) in July 1991, giving $40 million from the proceeds Next Marvel purchased Fleer within a year of going... Read More