Toy Biz

The 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.[4] In 1980, Chantex merged with Earl Takefman's Randim Marketing, Inc., a school supply manufacturer and wholesaler, to become Charan Industries Inc.[8] Its Charan Toy, Inc. subsidiary became a leading licensing toy company in 1985.[4] In addition to toys, Charan implemented brands in other areas, including acquiring a hockey equipment brand in the mid-1980s.[9]

In 1990, Charan, including the Toy Biz subsidiary, was purchased by businessman Ike Perlmutter.[10] In 1993, Toy Biz made a deal for "exclusive, perpetual, royalty-free licenses" of Marvel Characters for 46 percent of Toy Biz equity.[11] Avi Arad, a toy designer and comic book fan joined Toy Biz that same year.[10]

Toy Biz continued licensing outside brands, including DC Comics characters, producing goods such as the Batman (1989 film)'s Batmobile and some action figures,[12] Hercules: The Legendary Journeys and Xena: Warrior Princess action figures based on the Action Pack television series shown on many New World Television stations. Also, agreements with Gerber[13] and NASCAR were acquired.[4] In 1995, Toy Biz acquired Spectra Star, Inc.[14] and Quest Aerospace Education, Inc., both toy companies.[4] Toy Biz started up its Classic Heroes candy division in 1996, which sold candy/toy combinations using mainly Marvel characters. The company also entered the electronic learning aids (ELA) segment of the toy industry in 1996 with a licensing agreement with Apple Computer.[4]

Toy Biz partially acquired Marvel Entertainment Group.[15] In the late 1990s, Marvel Entertainment Group filed for bankruptcy and became the subject of a battle for control in bankruptcy court.[16][17] The company was salvaged in 1997 and merged with Toy Biz in 1998.[18][15] The new company became Marvel Enterprises, and Toy Biz became a division of the new company.[19][11]

In 1989, Hot Toys and Toy Biz released a Batman action figure along with a Batmobile. In February of 2023 Toy Biz released the 1989 Michael Keaton Batman and the Batmobile.[20]

In 1999, Toy Biz ventured into professional wrestling, acquiring the master toy license to World Championship Wrestling (WCW). After two years, the license deal was cut short, due to WCW being purchased by the World Wrestling Federation in 2001.[21] The company also licensed products for Total Nonstop Action Wrestling (TNA), Curious George and Code Lyoko.[22][23]

In 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.[24]

The logo used for Marvel Toys from 2005 to 2007.

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. As a result of this, Marvel Entertainment prematurely terminated its agreements with Toy Biz Worldwide Ltd, by a year.[25] As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide Ltd. a penalty of between $13–16 million USD.[26][25]

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.[27]