Marvel Looking For Sharecroppers
If there are any of you out there still holding on to some old Marvel stock then this might just be the time to cash in.
The company board of Marvel Enterprises Incorporated have authorised another $150 million to be used to buy back outstanding stock options. This is part of an ongoing programme of re-establishing the company back into a more stable trading position. Currently there are just fewer than 105 million shares still outstanding which at close of business on Tuesday were worth $19.88 each.
Due to over saturation in the comic book market and large scale diversifications which went wrong in the mid to late nineties Marvel were forced to declare chapter 11 to stave off their creditors. Since that time there has been a slow but steady return to profitability due to concentrating on the core book business and major global success with their movie licensing of both Spider-Man and X-Men.
I have been a science fiction, comic book and animation fan for a very long time. I honestly believe that comics are an extremely vital and exciting art form whose true worth is only now beginning to be recognised in the mainstream media and this appreciation can only continue to grow in the future. I regularly write science fiction short stories and send them off to the magazines. So far their response has not exactly allowed me to give up my day job but I plan to keep plugging away at it..
One Comment, Comment or Ping
Eoghann
If memory serves me, this is part of a strategy that Marvel has been persuing for several years now. There’s always been a lot of speculation that it’s trying to make itself a more tempting purchase for a larger media company like Sony perhaps.
One of the things that allows DC Comics to ride out so many storms and take chances like the Vertigo line is the fact it’s part of the giant Warner conglomerate.
May 14th, 2005
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