In the early 1990s, Marvel Entertainment Group began expanding though acquisitions and the formation of new divisions. 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. But at Marvel we are now in the business of the creation and marketing of characters." Public offering and acquisition "Disney's got much more highly recognized characters and softer characters, whereas our characters are termed action heroes. "It is a mini-Disney in terms of intellectual property," said Perelman. The deal did not include Marvel Productions, which was folded into New World's TV and movie business. On January 6, 1989, Ronald Perelman's MacAndrews & Forbes Holdings bought Marvel Entertainment Group from New World for $82.5 million. That year, it was sold to New World Entertainment Ltd as part of the liquidation of Cadence Industries. (or MEG), incorporated on December 2, 1986, and included Marvel Comics and Marvel Productions. Aside from their contract with Universal Parks & Resorts, Marvel's characters and properties have also appeared at Disney Parks. As of 2019, Marvel has film licensing agreements with Sony Pictures via Columbia 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). Over the years, Marvel Entertainment has entered into several partnerships and negotiations with other companies across a variety of businesses. For financial reporting purposes, Marvel is primarily reported as part of Disney's Consumer Products segment ever since Marvel Studios' reorganization from Marvel Entertainment into Walt Disney Studios. In 2009, The Walt Disney Company acquired Marvel Entertainment for US$4 billion it has been a limited liability company (LLC) since then. The company is a wholly owned subsidiary of The Walt Disney Company since 2009, and is mainly known for its comic books by Marvel Comics, as well as its forays into films and television/streaming shows, including those within the Marvel Cinematic Universe (MCU). Marvel Entertainment, LLC (formerly Marvel Enterprises) is an American entertainment company founded in June 1998 and based in New York City, New York, formed by the merger of Marvel Entertainment Group and Toy Biz.
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