January
13
The Deal with Toys
Marvel this week announced it is terminating its license with Toy Biz Worldwide a year early and will produce toys for this year on its own while preparing a transition to a new five-year license with Hasbro.
The new deal kicks in Jan. 1, 2007, and will give Hasbro the boon of producing toys that tie into movie releases “Ghost Rider,” “Spider-Man 3” and, confirmed for the first time, “Spider-Man 4.”
This deal is a strange one on the surface, given that Toy Biz is Marvel and the merger between the companies was the key that unlocked Marvel’s nasty bankruptcy in the 1990s. Toy Biz Worldwide, however, is a licensee based in Hong Kong, while Toy Biz is mainly Marvel’s licensing arm.
The deal will cost Marvel a previously undisclosed one-time charge of $13 million to $15 million for the fourth quarter of 2005. The deal calls for Marvel to receive a nonrefundable advance of $100 million and $205 million in royalty and service fee payments, of which $105 million is due upon release of the next two “Spider-Man” movies. Those royalties and fees are less than Marvel would have received from Toy Biz Worldwide, but Marvel says in a press release that the company expects Hasbro’s promotion and distribution strength will enhance the brand and improve sales.
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