Marvel Entertainment, LLC 

(formerly Marvel Enterprises) is an
American entertainment company founded in June 1998 and based in New York City, New York,
formed by the merger of Marvel Entertainment Group and Toy Biz. The company is a wholly
owned subsidiary of The Walt Disney Company since 2009, and is mainly known for its comic
books by Marvel Comics, as well as its forays into films and television/streaming shows, including
those within the Marvel Cinematic Universe (MCU).
In 2009, The Walt Disney Company acquired Marvel Entertainment for US$4 billion;[1] it has been
a limited liability company (LLC) since then. For financial reporting purposes, Marvel is primarily
reported as part of Disney's Consumer Products segment ever since Marvel Studios' reorganization
from Marvel Entertainment into Walt Disney Studios.[2]
Over the years, Marvel Entertainment has entered into several partnerships and negotiations with
other companies across a variety of businesses. As of 2019, Marvel has film licensing agreements
with Sony Pictures via Columbia Pictures (for Spider-Man films) and Universal Pictures (a right of
first refusal to pick up the distribution rights to any future Hulk films produced by Marvel Studios),
and theme park licensing agreements with IMG Worlds of Adventure and Universal Parks &
Resorts (for specific Marvel character rights at Islands of Adventure and Universal Studios Japan).
[3]
 Aside from their contract with Universal Parks & Resorts, Marvel's characters and properties have
also appeared at Disney Parks.[4]