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Cadence Industries Corporation (1962)

Cadence Industries

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  Summary  

Cadence Industries Corporation, formerly Perfect Film & Chemical Corporation, was an American conglomerate owned by Martin "Marty" S. Ackerman. From 1968 through 1986, Perfect/Cadence was the parent company of the publisher of Marvel Comics.

  Biography  

 Perfect Film

Perfect Film & Chemical Corporation was formed in 1962 by Martin "Marty" S. Ackerman from parts of his first four acquisitions: United Whelan Corporation, Hudson National, Perfect Photos, and Equality Plastics Inc. Hudson was a mail-order pharmaceuticals firm, and Equality Plastics, a consumer-products distributor. Perfect Film sold off Whelan drugstores and the Pathe Films Lab.

In early 1968, Perfect Film purchased Popular Library, a paperback book company. In 1968, Perfect Film loaned $5 million to Curtis Publishing Company, publisher of the Saturday Evening Post, at the request of Curtis' primary loan holder, First National Bank of Boston. In June and July 1968, Perfect Film sold US$40 million worth of securities, more than double the company's long-term debt. That fall, it bought out publisher Martin Goodman — owner of Magazine Management Company, the parent of Marvel Comics and other ventures — and made Magazine Management the direct subsidiary. It placed its other corporations as subsidiaries of that. Perfect Film purchased the Desilu Studios in 1968.

In March 1969, Perfect Film and Commonwealth United Corporation had tentatively agreed to a merger of Commonwealth and Plume and Atwood. Despite attempts to revive the Saturday Evening Post 's circulation, and with the lack of a purchaser, Curtis Publishing shut the magazine down in 1969. Perfect Film purchased Curtis Circulation Company that same year from Curtis Publishing. Also in 1969, OSF Industries purchased the Desilu Studios from the Corporation. Ackerman left Perfect Film In 1969.

Perfect Film sold Popular Library in 1970 to Fawcett Publications In July 1970, Perfect Film agreed to sell its 50.5% ownership in Plume Atwood Industries to Cinerama.

 Cadence Industries
Under president and CEO Sheldon Feinberg, the Company renamed itself Cadence Industries in 1973.

In 1981, Cadence's Hudson Pharmaceutical Corporation hired Venet Advertising to advertise the company's Hudson Vitamins unit, makers of Spider-Man chewable vitamins.

 Liquidation
When Cadence Industries was liquidated in 1986, it sold Marvel Entertainment Group to New World Pictures and Curtis Circulation was sold to Joseph M. Walsh and Hachette Distribution Services.

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Whole or part of the information contained in this card come from the Wikipedia article "Cadence Industries", licensed under CC-BY-SA full list of contributors here.