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Marvel studios 27th anniversary poster
In the late 1970s up to the early 1990s, Marvel Entertainment Group (MEG) sold options to studios to produce films based on Marvel Comics characters. One of Marvel’s superheroes, Spider-Man, was optioned in the late 1970s, and rights reverted to Marvel without a film having been produced within the allocated timeframe. From 1986 to 1996, most of Marvel’s major characters had been optioned, including the Fantastic Four, X-Men, Daredevil, Hulk, Silver Surfer, and Iron Man. A Howard the Duck film made it to the screen in 1986, but was a box-office flop. MEG was purchased by New World Entertainment in November 1986 and moved to produce films based on the Marvel characters. It released The Punisher (1989) before MEG was sold to Ronald Perelman’s Andrews Group. Two other films were produced: Captain America (1990) released in the United Kingdom on screens and direct to video in the United States, and The Fantastic Four (1994), not intended for release.
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Jerry Calabrese, the president of Marvel Entertainment Group and Avi Arad, head of Marvel Films and a director of Toy Biz, were assigned tandem control of Marvel Studios. Under Calabrese and Arad, Marvel sought to control pre-production by commissioning scripts, hiring directors, and casting characters, providing the package to a major studio partner for filming and distribution. Arad said of the goal for control, “When you get into business with a big studio, they are developing a hundred or 500 projects; you get totally lost. That isn’t working for us. We’re just not going to do it anymore. Period.” Marvel Studios arranged a seven-year development deal with 20th Century Fox to cover markets in the United States and internationally. In the following December, Marvel Entertainment Group went through a reorganization plan, including Marvel Studios as part of its strategic investment. By 1997, Marvel Studios was actively pursuing various film productions based on Marvel characters, including the eventual films X-Men (2000), Daredevil (2003), Elektra (2005) and Fantastic Four (2005). Unproduced projects included Prince Namor, based on the character Namor and to be directed by Philip Kaufman, and Mort the Dead Teenager, based on the comic book of the same name and written by John Payson and Mort creator Larry Hama. Marvel was developing a Captain America animated series with Saban Entertainment for Fox Kids Network to premiere in fall 1998. However, due to the bankruptcy the series was canceled after only character designs and a one-minute promotional reel were made.
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