Marvel Entertainment

Marvel Entertainment, LLC, formerly Marvel Entertainment, Inc. and Marvel Enterprises, Inc., was an American entertainment company and a subsidiary of the Walt Disney Company based in New York City that was active from June 2, 1998 to March 29, 2023. The former parent company of Marvel Comics, it was formed by the merger of Marvel Entertainment Group and Toy Biz. Marvel Entertainment was mainly known for consumer products, licensing, and comic books by its flagship asset, Marvel Comics, as well as its early forays into films and television series, including those within the Marvel Cinematic Universe (MCU). The Walt Disney Company acquired Marvel Entertainment for US$4 billion on December 31, 2009; it had been a limited liability company (LLC) since then. For financial reporting purposes, Marvel was primarily reported as part of the Disney Consumer Products segment ever since Marvel Studios' reorganization from Marvel Entertainment into Walt Disney Studios. Over the years, Marvel Entertainment entered into several partnerships and negotiations with other companies across a variety of businesses. As of 2025, Marvel has film licensing agreements with Sony Pictures via Columbia Pictures (for Spider-Man films) and theme park licensing agreements with IMG Worlds of Adventure and Universal Destinations & Experiences (for specific Marvel character rights at Islands of Adventure). Aside from their contract with Universal Destinations & Experiences, Marvel's characters and properties have also appeared at Disney Parks. On March 29, 2023, Marvel Entertainment's remaining units were folded into Disney's other divisions.