In January 2006, Marvel Entertainment signed a five-year licensing agreement with Hasbro Inc. for $205 million, giving Hasbro the right to make toys and games based on Marvel Comic licenses, starting on the 1st of January 2007. As a result of this, Marvel Entertainment prematurely terminated its agreement with Toy Biz Worldwide Ltd, by a year. As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide a penalty of between $13-16 million USD. Marvel Entertainment officially stopped using the "Toy Biz" branding and name from the 1st of January 2007, and the division completely became Marvel Toys.
Throughout 2007, the division struggled to stay afloat without the Marvel Comic characters. The company introduced a series called the Legendary Comic Book Heroes - making action figures of non-Marvel Comic characters, though it suffered with poor sales. The company also furthered its TNA Wrestling, Code Lyoko, and Curious George lines. Marvel Entertainment quietly began to close the division. In late 2007, the company's website went down, effectively ending Marvel Toys.
Subject ID: 81962
MoreIn January 2006, Marvel Entertainment signed a five-year licensing agreement with Hasbro Inc. for $205 million, giving Hasbro the right to make toys and games based on Marvel Comic licenses, starting on the 1st of January 2007. As a result of this, Marvel Entertainment prematurely terminated its agreement with Toy Biz Worldwide Ltd, by a year. As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide a penalty of between $13-16 million USD. Marvel Entertainment officially stopped using the "Toy Biz" branding and name from the 1st of January 2007, and the division completely became Marvel Toys.
Throughout 2007, the division struggled to stay afloat without the Marvel Comic characters. The company introduced a series called the Legendary Comic Book Heroes - making action figures of non-Marvel Comic characters, though it suffered with poor sales. The company also furthered its TNA Wrestling, Code Lyoko, and Curious George lines. Marvel Entertainment quietly began to close the division. In late 2007, the company's website went down, effectively ending Marvel Toys.
Subject ID: 81962
Subject ID: 81962