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LJN

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This article is about the defunct toy company and video game publisher. For other uses, seeLJN (disambiguation).

LJN Toys Ltd.
Company typeSubsidiary
IndustryVideo games
Founded1970;54 years ago(1970)
FounderJack Friedman
Defunct1994;30 years ago(1994)
FateDissolved
Headquarters
New York City
,
US
Parent

LJN Toys Ltd.was an American toy company andvideo game publisherbased inNew York City.Founded in 1970 byJack Friedman,the company was acquired byMCA Inc.in 1985, sold toAcclaim Entertainmentin 1990, and dissolved in 1994. The toy division of the company was closed by Acclaim and the company shifted towards video game publishing before being closed in 1994. The company's branding was last used for the release ofSpirit of Speed 1937in 2000.

The brand was revived in 2018 with the formation of LJN Toys, LLC, with Ringside Collectibles making exclusive figurines ofThe Young Bucksin 2019.[1]Jazwareswould also use the branding on itsAll Elite Wrestlingtoy line, from 2021.[2]

History

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Early history (1970–1985)

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Jack Friedmanfounded LJN in 1970 using funds from his employer Norman J. Lewis Associates (from which the company name "LJN" is derived, being a reversal of Lewis' initials)[3]after seeing the sale figures ofMattelandMilton Bradley Companyincrease.[4]Friedman later foundedTHQandJakks Pacificafter leaving LJN.[5]LJN shifted money used for television advertising to instead purchase licenses to make toys based on television shows.[6]The first toyline by LJN based on a television show was forEmergency![7]The highest amount the company paid for a license by 1982 was $250,000.[8]

LJN purchased the license to make toys based onE.T. the Extra-Terrestrialfor $25,000 due to other companies declining the option, includingKenner ProductsandIdeal Toy Company,and sold over $16–25 million worth of merchandise without the need of an advertising campaign. A doll based onBrooke Shieldswas released with a $2 million advertising budget and made over $12 million in 1982. LJN's revenue rose from $5 million in 1971 to $70 million in 1982 due to the E.T. and Brooke Shields toys.[9][8][10][11][12]

In 1984 LJN became the toy licensee of theWorld Wrestling Federation.TheWrestling Superstarsline, which featured action figures based on WWF's roster of wrestlers, was produced from 1984 to 1989.[13]

LJN competed withMattelin the toy market.[9]The company produced theThunderCatstoyline in competition with Mattel'sMasters of the Universe.[14]

MCA ownership (1985–1990)

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On March 26, 1985,MCA Inc.announced that it would purchase 63% of LJN's stocks for $39.8 million and proposed to buy the remainder of the stock for $14.26 for each share which would increase the total value of the deal to almost $65 million.[15]However, the company failed to make a net income from 1986 to 1989, and MCA had to take a $53 millionafter-tax chargedue to the expenses of the company before selling it toAcclaim Entertainmentfor $30 million in April 1990.[16][17][18]LJN had a revenue of $110,510,000 and a net loss of $37.3 million in 1987.[19]

LJN entered the video game industry by publishing games based on movies and television shows developed by companies includingAtlus,Beam Software,andRarefor theNintendo Entertainment Systemin 1987.[20]The company released theLJN Video Artin 1987.[21][22]The majority of the company's $70 million in sales in 1990 came from video game sales on the Nintendo Entertainment System andGame Boy.[16]

The company released a paint gun line named Gotcha! with a license from the filmGotcha!,but this line were criticized byconsumer protectiongroups due to the danger it posed to eyes.[23]The toyline was financially unsuccessful, and MCA had to take a $35 million after-tax charge due to its failure and the expenses of theColeco.[24]The company was also criticized by police officers andAmericans for Democratic Actionfor itsEntertechline of toy water guns due to how realistic they looked; LJN changed the design of the toys after three people in the United States from ages 13 to 19 were killed as a result of police officers thinking they had actual guns, and multiple cities and states banned the sale of realistic toy guns.[25][26][27]

Acclaim Entertainment ownership (1990–2000)

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Lawrence Kanaga filed a lawsuit on behalf of Clark Thiemann on January 31, 1990, against LJN,Nintendo,andMajor League Baseballclaiming that the gameMajor League Baseballwas falsely advertised to Thiemann stating that it would allow him to simulate being a baseball team manager and Kanaga stating that the game was advertised as having all of the players, but instead only had their uniform numbers.[28]

Acclaim closed LJN's toy division and shifted the company's focus to video game publishing.[29]In 1991, theU.S. Consumer Product Safety Commissionrecalled LJN's Sling 'Em-Fling 'Em wrestling ring toys based on theWorld Wrestling Federation,which sold 1.4 million products from 1985 to 1989, due to multiple children between six and ten being injured by the toys.[30]

Acclaim closed LJN in 1994, but reused the company's name for the release ofSpirit of Speed 1937in 2000.[31][32]

LJN Toys, LLC. (2018–)

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The LJN brand was revived again in 2019 by Ringside Collectibles releasing an exclusive twin pick of figures ofThe Young Bucks,and then byJazwaresfor itsAll Elite WrestlingUnmatched line of action figures.[33][34]The LJN-style figures resemble the Wrestling Superstars of the 1980s.[35]

References

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  1. ^Figures, Ringside (March 7, 2019)."LJN".Ringside Figures Blog!.RetrievedJuly 18,2024.
  2. ^"AEW Announce First LJN Action Figures Since 1989".itrwrestling.com.July 17, 2021.RetrievedJuly 18,2024.
  3. ^"A Recap of Industry Headlines, Jack Friedman: July 9, 1939-May 3, 2010".Toys and Family Entertainment, Vol.5, No. 7, June 2010.aNb Media, Inc. June 2010.RetrievedMarch 30,2022.
  4. ^"Business People; Head of LJN Toys Sees Succss Through 'E.T.'".The New York Times.September 15, 1982.Archivedfrom the original on March 20, 2022.RetrievedMarch 20,2022.
  5. ^"Jack Friedman Dies at 70; Toy Maker".Los Angeles Times.May 6, 2010.Archivedfrom the original on September 29, 2021.RetrievedMarch 20,2022.
  6. ^"Toy Companies Using TV Shows As Advertising".Corpus Christi Caller-Times.October 1, 1976. p. 32.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  7. ^"Toy Industry Game: Licensing".The Boston Globe.February 19, 1985. p. 64.Archivedfrom the original on March 19, 2022 – viaNewspapers.com.
  8. ^ab"Millions to Toymakers".Lansing State Journal.December 8, 1982. p. 41.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  9. ^ab"Buyers Are Going Bananas over Licensed Toys This Year".Palladium-Item.December 7, 1982. p. 9.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  10. ^"Are You Ready for Doll Wars?".Press & Sun-Bulletin.December 7, 1981. p. 4.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  11. ^"E.T., Phone Your Broker".The Pantagraph.December 12, 1982. p. 433.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  12. ^"Small Business Plays Well in Market".The Pantagraph.November 2, 2000. p. 24.Archivedfrom the original on March 16, 2022 – viaNewspapers.com.
  13. ^Brian Volk-Weiss (November 15, 2019),The Toys That Made Us: "Wrestling"
  14. ^"Rambo and Robots Top Toy Lists for 1986".Sioux City Journal.January 31, 1986. p. 6.Archivedfrom the original on March 19, 2022 – viaNewspapers.com.
  15. ^"MCA Agrees to Acquire L.J.N. Toys: Entertainment Firm to Exchange Up to $39.8 Million in Stock".Los Angeles Times.March 27, 1985.Archivedfrom the original on March 16, 2022.
  16. ^ab"MCA in Pact with Acclaim".The New York Times.March 13, 1990.Archivedfrom the original on March 20, 2022.RetrievedMarch 20,2022.
  17. ^"Company News; MCA Taking Loss in Sale of Toy Unit".The New York Times.January 23, 1990.Archivedfrom the original on March 20, 2022.RetrievedMarch 20,2022.
  18. ^"Acclaim Says LJN Suit Is MCA's Problem".Chicago Tribune.July 25, 1990. p. 31.Archivedfrom the original on March 21, 2022.RetrievedMarch 21,2022– viaNewspapers.com.
  19. ^"MCA to Take $35-Million Charge in Quarter".Los Angeles Times.June 29, 1988. p. 12.Archivedfrom the original on March 21, 2022.RetrievedMarch 21,2022– viaNewspapers.com.
  20. ^The Routledge Companion to Adaptation.Taylor & Francis.2018.
  21. ^"'Hands On' Approach to Kids' Videos ".Wisconsin State Journal.September 3, 1989. p. 132.Archivedfrom the original on March 19, 2022.RetrievedMarch 19,2022– viaNewspapers.com.
  22. ^"Patents; Device Converts TV Set into a Coloring Book".The New York Times.November 5, 1988.Archivedfrom the original on March 19, 2022.RetrievedMarch 19,2022.
  23. ^"Group Criticizes 'Gotcha!' Gun".United Press International.November 17, 1987.Archivedfrom the original on March 16, 2022.
  24. ^"Company News".The New York Times.June 30, 1988.Archivedfrom the original on March 20, 2022.RetrievedMarch 20,2022.
  25. ^"Realistic Toy Guns Create Worries for Police".The Record.August 12, 1985. p. 9.Archivedfrom the original on March 20, 2022 – viaNewspapers.com.
  26. ^"Realistic Toy Guns Worry Police".The Record.August 12, 1986. p. 8.Archivedfrom the original on March 20, 2022 – viaNewspapers.com.
  27. ^"After 3 Deaths, Realistic Toys Are Under Fire".The New York Times.June 16, 1988.Archivedfrom the original on March 20, 2022.RetrievedMarch 20,2022.
  28. ^"9-Year-Old Sues over Video Baseball Game Boy Says Tape Strikes Out - Wants Nintendo, Major League to Return $40".Deseret News.February 1, 1990.Archivedfrom the original on March 19, 2022.
  29. ^"Acclaim and MCA Dispute Final Price in LJN Toys Deal".Newsday.July 6, 1990. p. 45.Archivedfrom the original on March 21, 2022.RetrievedMarch 21,2022– viaNewspapers.com.
  30. ^"LJN" Sling 'Em-Fling 'Em "Wrestling Ring Toy Recalled".U.S. Consumer Product Safety Commission.November 4, 1991.Archivedfrom the original on March 16, 2022.
  31. ^Carlisle, Rodney (April 2, 2009).Encyclopedia of Play in Today′s Society.SAGE Publishing.
  32. ^"Hands On: Spirit of Speed 1937".IGN.June 30, 2000.Archivedfrom the original on March 21, 2022.RetrievedMarch 21,2022.
  33. ^Figures, Ringside (March 7, 2019)."LJN".Ringside Figures Blog!.RetrievedJuly 18,2024.
  34. ^"AEW Announce First LJN Action Figures Since 1989".itrwrestling.com.July 17, 2021.RetrievedJuly 18,2024.
  35. ^Zahn, James (June 1, 2021)."Jazwares Unleashes AEW Wrestling Buddies Plush, Unmatched, and Unrivaled Collection Action Figures".The Toy Book.RetrievedOctober 9,2022.
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