Toy Biz, Inc.(later known asMarvel Toys) was atoy manufacturer,originally founded inMontreal,QuebecasCharan Toys.The company is best known for holding theMarvel Comicstoy license from 1990 to 2006.
 | |
| Marvel Toys | |
| Formerly | Charan Toys, Toy Biz |
| Founded | 1988,inMontreal,Quebec,Canada |
| Defunct | 2007,inNew York City,New York,United States |
| Fate | Closed byMarvel Entertainment |
Key people | Isaac Perlmutter Avi Arad(toy designer) |
| Products | Games, toys and children's vehicles; dolls and stuffed toys |
| Owner | Marvel Entertainment Group |
In 1993,Marvel Entertainment Groupacquired a minority stake in Toy Biz.[1]In 1998, Toy Biz merged with Marvel Entertainment Group to bring it out of bankruptcy, with the two merged companies becomingMarvel Enterprises.Toy Biz would continue as the name of its toy manufacturing division.
In 2005, the division would start to use the name Marvel Toys, as well as Toy Biz, to reflect theMarvel Cinematic Universe.[2]In January 2006,Hasbroacquired the Marvel Comics toy license, to release its first products in January 2007. The division attempted to continue with non-Marvel licenses, but became inactive by fall 2007.[3][4]
History
editLate 20th century to 1997
editCharan Toys (Canadian company)
editThe company's original forerunner, Canadian company Chantex, Inc., was founded in the late 19th century by the Zuckerman family. The business grew from $.16 million in sales to sales of $4.5 million in 1980.[1]In 1980, Chantex merged with Earl Takefman's Randim Marketing, Inc., a school supply manufacturer and wholesaler, to become Charan Industries Inc.[5]Its Charan Toy, Inc. subsidiary became a leading licensing toy company in 1985.[1]In addition to toys, Charan implemented brands in other areas, including acquiring a hockey equipment brand in the mid-1980s.[6]
Toy Biz (American company)
editIn 1988, Charan Toys was renamed Toy Biz and became an American firm.[7][8]
In 1990, Charan, including the Toy Biz subsidiary, was purchased by businessman Ike Perlmutter.[9]In 1993, Toy Biz made a deal for "exclusive, perpetual, royalty-free licenses" ofMarvel Charactersfor 46 percent of Toy Biz equity.[10]Avi Arad,a toy designer and comic book fan joined Toy Biz that same year.[9]
Toy Biz continued licensing outside brands, includingDC Comicscharacters, producing goods such as theBatman's(1989)Batmobileand some action figures,[11]Hercules: The Legendary JourneysandXena: Warrior Princessaction figures based on theAction Packtelevision series shown on manyNew World Televisionstations. Also, agreements withGerber[12]andNASCARwere acquired.[citation needed][1]In 1995, Toy Biz acquired Spectra Star, Inc.[13]andQuest AerospaceEducation, Inc., both toy companies.[1]Toy Biz started up its Classic Heroes candy division in 1996, which sold candy/toy combinations using mainly Marvel characters.[citation needed]The company also entered the electronic learning aids (ELA) segment of the toy industry in 1996 with a licensing agreement withApple Computer.[1]
Toy Biz partially acquired Marvel Entertainment Group.[14]In the late 1990s, Marvel Entertainment Group filed for bankruptcy and became the subject of a battle for control in bankruptcy court.[15][16]The company was salvaged in 1997 and merged with Toy Biz in 1998.[17][14]The new company becameMarvel Enterprises,and Toy Biz became a division of the new company.[18][10]
1998 to 2007
editToy Biz as a subsidiary
editIn 1999, Toy Biz ventured intoprofessional wrestling,acquiring the master toy license toWorld Championship Wrestling(WCW). After two years, the license deal was cut short, due to WCW being purchased by theWorld Wrestling Federationin 2001.[19]
Toy Biz were also notable for producing action figures for Peter Jackson'sLord of the Rings Film Trilogybetween 2001 and 2005. Having developed a good working relationship withNew Line Cinemafollowing theirBladetoy line, Toy Biz managed to get the rights in spite of stiff competition from other companies. Toy Biz made several developments with this line - going for a slightly larger 6 inch scaled figure as opposed to the 3 31/4” scale popularised by toy lines such as Hasbro'sStar Warsfigures and going for a mixture of screen accuracy and articulation/playability in order to appease both child and adult collectors.[20]
The company would later license products forTotal Nonstop Action Wrestling(TNA),Curious GeorgeandCode Lyoko.[21][22]
Toy Biz Worldwide Ltd.
editIn 2001, Marvel Enterprises licensed the rights to the 'Toy Biz' name to a Hong Kong–based toy manufacturer, Toy Biz Worldwide Ltd. Toy Biz also outsourced much of the manufacturing to Toy Biz Worldwide Ltd.[23]
Marvel Entertainment licensing agreement to Hasbro
editIn January 2006, Marvel Entertainment signed a five-year licensing agreement withHasbro Inc.for $205 million, giving Hasbro the right to make toys and games based on Marvel Comic licenses. As a result of this, Marvel Entertainment prematurely terminated its agreements with Toy Biz Worldwide Ltd, by a year.[24]As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide Ltd. a penalty of between $13–16 million USD.[25][24]
Throughout 2007, the division struggled to stay afloat without the Marvel Comic licenses. 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 and Curious George lines. Marvel Entertainment quietly began to close the division. In late 2007, the company's website shut down.[26]
Legacy
editIn 2022,Hasbroreleased updated versions of Toy Biz's first wave ofMarvel Legendsfigures to celebrate the line's twentieth anniversary.[27]
See also
edit- Toy Biz v. United States,a court case that determined that Toy Bizaction figureswere toys, not dolls.
References
edit- ^abcdef"Toy Biz, Inc. -- Company History".fundinguniverse.com.Retrieved12 April2011.
- ^"Archives".Los Angeles Times.Retrieved2022-02-25.
- ^"Marvel Toys - Home".2007-10-31. Archived fromthe originalon 31 October 2007.Retrieved2022-02-25.
- ^"Complete List of Marvel Legends Action Figures".www.toyhollywood.com.Retrieved2023-06-21.
- ^Ward, Arthur (2020-02-24).Action Figures: From Action Man to Zelda.The Crowood Press.ISBN978-1-78500-688-3.
- ^Sentinel, Orlando."BUSINESS DEAL. Charan Industries Inc. of Montreal..."OrlandoSentinel.com.Retrieved2019-04-17.
- ^"Toy Biz Lives on in Hasbro Marvel Action Figures".Entertainment Earth.Retrieved15 June2023.
- ^"ToyBiz Marvel".Figure Archive.Retrieved15 June2023.
- ^ab"Marvel's $1.4 Billion Man".
- ^abRaviv, Dan (April 2002).Comic Wars.Broadway Books.ISBN0-7679-0830-9.
- ^The TOP 13 Wonderful BATMAN ’89 ToysPosted By Dan Greenfield on Feb 19, 2021, the 13th Dimension.com
- ^Madore, Bt James T. (1994-02-19)."Competitors crowd Fisher-Price's market".The Buffalo News.Retrieved2019-04-17.
- ^"Company Briefs".The New York Times.1995-08-22.ISSN0362-4331.Retrieved2019-04-17.
- ^ab"Toy Biz to take over Marvel - Jun. 29, 1998".money.cnn.com.Retrieved2019-04-17.
- ^Norris, Floyd (1997-04-29)."Marvel Proposes a Merger With Toy Biz".The New York Times.ISSN0362-4331.Retrieved2019-04-17.
- ^Errico (27 December 1996)."Marvel Files for Bankruptcy".
- ^Williams, Trey (2018-04-29)."How Marvel Bounced Back From Bankruptcy to Become Hollywood's Biggest Brand".SFGate.Retrieved2019-04-17.
- ^Norris, Floyd (29 April 1997)."Marvel Proposes a Merger With Toy Biz".The New York Times.
- ^"20 Years Ago Today WWF Bought WCW".WrestlingNewsSource.2021-03-23.Retrieved2022-02-25.
- ^"13 Frodos changed action figures forever".polygon.com.2021-04-14.Retrieved2024-01-02.
- ^"Figure Collections".[permanent dead link]
- ^"Toy Biz Gets 'Curious George' License".icv2.com.Retrieved2022-02-25.
- ^"Marvel Reviews Synergies in Toy and Toy Licensing Operations".Retrieved2018-03-30.
- ^ab"Marvel, Toy Biz Worldwide Part Ways".Animation Magazine.2006-01-09.Retrieved2018-03-26.
- ^"Marvel Terminates Toy Biz Worldwide Licensing Agreement and Plans for Transition to Hasbro License in 2007".www.businesswire.com.2006-01-09.Retrieved2019-05-01.
- ^"Marvel Toys - Home".October 31, 2007. Archived from the original on October 31, 2007.Retrieved2018-03-26.
{{cite web}}:CS1 maint: bot: original URL status unknown (link) - ^K, Dabid (2021-10-23)."Marvel Legends 20th Anniversary Captain America & Iron Man Up for Order!".Marvel Toy News.Retrieved2022-02-25.