Citation

Marvel Studios: The Architecture of a Cinematic Universe

Marc Graser

Variety, Special Report (2015)

TL;DR

Marvel bankruptcy December 1996 with $900M debt

Comprehensive analysis of Marvel's bankruptcy (1996) to Disney acquisition (2009) trajectory. Documents the regeneration timeline, character licensing economics, and strategic decisions that transformed a bankrupt comic company into the highest-grossing film franchise.

Provides timeline and financial data supporting Marvel as successful regeneration case study: 13 years from bankruptcy to $4B acquisition, root system (characters, brand) survived, energy reserves (character library) funded regrowth.

Key Findings from Graser (2015)

  • Marvel bankruptcy December 1996 with $900M debt
  • Character rights sold for minimal amounts (Spider-Man $7M, X-Men $2.6M)
  • Disney acquired Marvel for $4B in 2009
  • MCU generated $30B+ box office by 2024

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