Marvel Enterprises Inc

Marvel Enterprises Inc., the publisher of "Spider-Man" comic books, said Allen Lipson will become chief executive after Peter Cuneo retires at the end of the year. Lipson, 59, has been Marvel's executive vice president of business and legal affairs since November 1999. Cuneo will continue to serve as a board member and advisor, the company said.

Walt Disney Co.'s romance with Marvel Entertainment began last February when Disney Chief Executive Bob Iger first brought up the idea of an acquisition during an otherwise innocuous business meeting with Marvel film chief David Maisel. In June, Iger made his intentions clear and the two companies embarked on a nearly three-month-long series of negotiations that involved four in-person meetings, numerous phone discussions and an intense back-and-forth over price that culminated in the $4-billion deal announced Aug. 31. The timeline of the negotiations that led to the acquisition, along with other details of the agreement, were disclosed Tuesday in a regulatory filing from Disney that led with its public offer of up to $2.12 billion in stock to help fund the deal.

Marvel Enterprises Inc. said its third-quarter loss widened to $14.7 million, or 54 cents a share, from $9.2 million, or 39 cents, a year ago, as the comic-book publisher and toy maker shifts from its traditional toy lines to focus on its more-profitable licensing and entertainment businesses. Sales fell 41% to $43 million, the New York-based company said. Revenue from the licensing and publishing units rose. Marvel fell 16 cents to $2.80 on the NYSE.

Look out, Red Skull, the company that owns Marvel comics has raised enough money to fund a movie about your archenemy, Captain America, and nine other superhero adventures. Marvel Enterprises Inc. is expected to announce today that it has changed its name to Marvel Entertainment Inc. to reflect its expansion into film production with the closing of a $525-million loan deal with Merrill Lynch, Pierce, Fenner & Smith Inc.

Marvel Enterprises Inc. handed out $2.18 million in executive bonuses last year after awarding none in 2001, as licensing fees connected to the "Spider-Man" movie helped quadruple earnings. Alan Fine, president of Marvel's Toy Biz marketing division, got the biggest bonus, $669,926, plus a salary of $450,000, the company said in a regulatory filing. F. Peter Cuneo, who had been Marvel's chief executive, got a bonus of $500,000 and salary of $772,115 before resigning in December.

Electronic Arts Inc. said it would delay the launch of "The Godfather" game, based on the book and movie of the same name, until the first quarter of 2006. The highly anticipated title was to be on sale in time for the Christmas holiday. But a spokesman for the company said the "Open World" interactive element that allowed characters to move freely through the game was not "quite ready." From Reuters * Microsoft Corp. reached an agreement to use Marvel Enterprises Inc.'

Sony Corp. said a lawsuit filed by comic books publisher Marvel Enterprises Inc. over licensing rights to the "Spider-Man" movie franchise should remain confidential, according to court papers. Marvel, the publisher of "Spider-Man" and "X-Men," in February filed a lawsuit under seal against Sony and announced the move in a news release. Two newspapers, Daily Variety and the Daily Journal, asked the court to make the filing public.

Spider-Man creator Stan Lee, who spent two years in court fighting Marvel Enterprises Inc. for royalties from the characters he invented, said he expected to settle the case before a judge decided how much the company owed him. "All I'm looking for is a fair settlement," Lee said in an interview in his Beverly Hills office. "The last thing I would want to do is bankrupt Marvel. I love the company, and I love the people there." U.S.

Marvel Enterprises Inc. is teaming with Lions Gate Entertainment Corp. to enter the direct-to-DVD video cartoon market. The comic book giant, whose 4,700-character library features such big names as Spider-Man and X-Men, said the agreement with Lions Gate covered eight original animated projects based on "certain characters within the Marvel universe."

A Los Angeles County Superior Court judge ruled that sealed court documents pertaining to a dispute between Sony Pictures Entertainment and Marvel Enterprises Inc. over merchandising profits from the movie "Spider-Man" should be made public. As a matter of procedure, the original documents filed in the case will be returned to both parties. Marvel is expected to refile its complaint today, and Sony is expected to file a cross-complaint against the comic book company.

Electronic Arts Inc. said it would delay the launch of "The Godfather" game, based on the book and movie of the same name, until the first quarter of 2006. The highly anticipated title was to be on sale in time for the Christmas holiday. But a spokesman for the company said the "Open World" interactive element that allowed characters to move freely through the game was not "quite ready." From Reuters * Microsoft Corp. reached an agreement to use Marvel Enterprises Inc.'

Marvel Enterprises Inc., which holds the rights to 5,000 comic book characters, settled a lawsuit with Spider-Man creator Stan Lee over film royalties and plans to start producing its own movies. The company said it had signed an eight-year agreement with Paramount Pictures, a unit of Viacom Inc., to distribute as many as 10 films, according to a statement Thursday. Merrill Lynch & Co. set up a $525-million credit line to fund production, a loan backed by limited rights to 10 Marvel characters.

Spider-Man creator Stan Lee, who spent two years in court fighting Marvel Enterprises Inc. for royalties from the characters he invented, said he expected to settle the case before a judge decided how much the company owed him. "All I'm looking for is a fair settlement," Lee said in an interview in his Beverly Hills office. "The last thing I would want to do is bankrupt Marvel. I love the company, and I love the people there." U.S.

Caught in a sticky legal web, Marvel Enterprises Inc. was told it owes comic book icon Stan Lee 10% of the profit it has received since November 1998 for films based on Spider-Man and other superheroes Lee created. The 82-year-old Lee could be entitled to tens of millions of dollars, considering the blockbuster success of the movies "Spider-Man" and "Spider-Man 2," said his attorney, Howard Graff. "This is a sweeping victory for Mr. Lee."

* Japan's economy grew at an annual 0.3% pace in the third quarter, less than expected, suggesting a recovery was faltering as overseas demand for the nation's semiconductors and flat-panel screens slowed. * Mossimo Inc., a maker and licenser of apparel and accessories, said its third-quarter results swung to a loss on higher expenses. The Santa Monica-based company posted a loss of $125,000, or 1 cent a share, contrasted with a profit of $630,000, or 4 cents, a year earlier. Revenue rose to $4.

Three months after suing Walt Disney Co. in a dispute over royalties, Marvel Enterprises Inc. wants to strip the Magic Kingdom of its licensing deals for lucrative Marvel superheroes. In a new lawsuit filed Friday in federal court in Los Angeles, Marvel asked a judge to declare that Disney didn't legally assume copyrights to Marvel characters when it bought the original licensee, Fox Family Worldwide, in 2001.

Marvel Enterprises Inc. and Sony Pictures Entertainment have settled a 16-month-old legal entanglement over their "Spider-Man" film licensing venture in a deal that should boost Marvel revenue, the comic book publisher said. New York-based Marvel accused Sony of trying to hijack the Spider-Man brand by claiming exclusive merchandising rights to the character and "cross-promoting" the superhero with other Sony films in alleged violation of their partnership.

Marvel Entertainment Group Inc. emerged from bankruptcy as a unit of Toy Biz Inc., ending a nearly two-year effort to reorganize the world's largest comic book publisher, officials said. Toy Biz officials said they are changing the company's name to Marvel Enterprises Inc. to complement the combination of the comic book company and the New York-based toy maker, which produces action figures based on Marvel characters such as Spiderman and Captain America.

World Wrestling Entertainment Inc. is suing comic-book company Marvel Enterprises Inc. to continue using the "Hulk Hogan" name. Hulk Hogan, played by Terry Bollea, has been one of World Wrestling's most popular wrestlers since the 1980s. In 1985, World Wrestling signed a 20-year contract after it was accused by Marvel of infringing on the "Incredible Hulk" comic-book character. The agreement covered the words "Hulk Hogan," "Hulkamania" and "Hulkster," according to the lawsuit.

Marvel Enterprises Inc. and Sony Pictures Entertainment have settled a 16-month-old legal entanglement over their "Spider-Man" film licensing venture in a deal that should boost Marvel revenue, the comic book publisher said. New York-based Marvel accused Sony of trying to hijack the Spider-Man brand by claiming exclusive merchandising rights to the character and "cross-promoting" the superhero with other Sony films in alleged violation of their partnership.