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Former President And CEO of Marvel Entertainment Group James Galton Dies

Written by Tim Midura on Wednesday, June 14 2017 and posted in News with Benefits

Former President And CEO of Marvel Entertainment Group James Galton Dies

Galton brought Marvel from $12 million a year in 1975 to $70 million in 1991.

Source: The Hollywood Reporter

James Galton, the former President and CEO of Marvel Entertainment Group, died Monday at 92. He is widely credited with saving the company from bankruptcy in the 1970s. He took the job at Marvel in 1975, when the company was struggling and worth $12 million.

"My friends told me, 'The comic industry is dead. Don't do this,'" he said in a 2010 interview with the Naples Daily News. "But I had four kids — two in private school, two in college — and two mortgages. I had to take the job."

Galton bucked the trend of the newsstand model, selling directly to consumers and comic book shops, making the first step in the direction of the problem the market currently faces. He also obtained the Star Wars comic license in 1977. 

When he left in 1991, Marvel was worth $70 million and was the largest comic book company in the world.

Galton always maintained that comic books were a legitimate form of literary expression that deserved respect, and he used the medium to advance social causes like energy conservation, civil and women's rights, child abuse prevention and universal literacy.


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About the Author - Tim Midura

Born in the frozen tundra of Massachusetts, Tim Midura has long possessed a love for comic books and records. After stealing the beard of Zeus and inventing the pizza bagel, a much more heavily tattooed and bearded Tim Midura has finally settled in San Diego. He's the world's first comics journalist who doesn't want to become a comics writer. Find him on twitter, facebook or by email.

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