This put Toy Biz in a position to partially acquire Marvel Entertainment, and when the latter’s late 1990s bankruptcy turned into a battle for ownership, Perlmutter and fellow Toy Biz exec Avi Arad emerged victorious, merging Toy Biz and Marvel Entertainment into Marvel Enterprises.
In 2015, Disney exec Bob Iger even caught wind that Perlmutter was attempting to have Feige fired, and he swiftly reorganized Marvel Studios under Walt Disney Studios so that Perlmutter would no longer have control over the division.
Perlmutter entered the Marvel cosmos in the early 1990s, when his recently acquired company Toy Biz obtained the licenses to Marvel characters.
Perlmutter rose to CEO of Marvel Entertainment in 2005, a title he retained even as he sold the company to Disney in 2009, just as Marvel Entertainment’s film production subsidiary, Marvel Studios, was ramping up its in-house franchise.