Marvels

RESEARCH PAPER

MARVEL COMICS TURNAROUND

MGMT-934 MANAGING TURNAROUNDS PROFESSOR SHEIN

PREPARED BY: KARL BRACKEN NATHAN CHANDRASEKARAN JUSTIN KESSLER HITOSHI MITANI URAPA NONTASUT DAVID YOUN

FEBRUARY 26, 2004

Marvel Comics Turnaround

Team 2

Table of Contents:
Part I: The Causes of Marvel's Decline............................................................................ 5
Introduction ............................................................................................................................................ 5 Perelman's Mistakes, and the Resulting Decline and Fall of Marvel...................................................... 5 Increasing Comic book Prices and Proliferating Titles....................................................................... 6 Distribution: Biting the Hand That Fed Marvel.................................................................................. 7 Acquisitions ........................................................................................................................................ 8 Signs of the Decline.............................................................................................................................. 10

Part II: The Bankruptcy and How It Was Handled ....................................................... 12
Fast Forward to December, 1996.......................................................................................................... 12 Marvel Perspective - Next Steps? ........................................................................................................ 12 Marvel Option A: Divest Non-Core Assets and Loss-Generating Units .......................................... 13 Marvel Option B: Sale of Entire Company, Including Sell Core Assets of Comic Characters ........ 14 Marvel Option C: Consolidation with Another Company ................................................................ 14 Marvel Option D: Negotiate Existing... [continues]

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