Marvel Comics Characters By Andy Jones

Marvel earned a great deal of money and recognition during the comic book boom of the early 1990s, launching the successful 2099 line of comics set in the future (Spider-Man 2099, etc.) and the creatively daring though commercially unsuccessful Razorline imprint of superhero comics created by novelist and filmmaker Clive Barker. Yet by the middle of the decade, the industry had slumped, and in December 1996 Marvel filed for Chapter 11 bankruptcy protection.
In 1991, Ronald Perelman, whose company MacAndrews and Forbes had purchased Marvel in 1986, took the company public in a New York Stock Exchange stock-offering underwritten by Merrill Lynch and First Boston Corporation. As part of the process, Marvel Productions sold its back catalog to Saban Entertainment (which was acquired in 2001 by The Walt Disney Company). Following the rapid rise of this popular stock, Perleman issued a series of junk bonds that he used to acquire other children's entertainment companies. Many of these bond offerings were purchased by Carl Icahn Partners, which later wielded much control during Marvel's court-ordered reorganization after Marvel went bankrupt in 1996. In 1997, after protracted legal battles, control landed in the hands of Isaac Perlmutter, owner of the Marvel subsidiary Toy Biz. With his business partner Avi Arad, publisher Bill Jemas, and editor-in-chief Bob Harras, Perlmutter helped revitalize the comics line.
Also in the early 1990s, Marvel created Marvel Studios, devoted to film and TV projects. Arad became director of that division in 1993, with production accelerating in 1998 following the success of the film Blade, based on the Marvel character.