Cadence Industries

From Wikipedia, the free encyclopedia
Jump to: navigation, search
This article is about the defunct conglomerate, not the later Cadence Industries, a telecommunication-product distributor.
Cadence Industries Corporation
Former type Public
Industry Medical
Publishing
Fate liquidated
Predecessor(s) United Whelan Corporation
Hudson National
Perfect Photos
Equality Plastics Inc.
Founded 1962
Founder(s) Martin S. Ackerman
Defunct 1986[1]
Headquarters Caldwell, N.J[2]
Products drugs
health aids
vitamins
magazines
comic books
Services film processor
mail order
Divisions Marvel Comics Group
Subsidiaries see list

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

History[edit]

Perfect Film[edit]

Perfect Film & Chemical stock certificate logo

Perfect Film & Chemical Corporation (Perfect Film) was formed in 1962 by Martin "Marty" S. Ackerman[3] 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,[4] and Equality Plastics, a consumer-products distributor.[5] Perfect Film sold off Whelan drugstores and the Pathe Films Lab.[3]

In early 1968, Perfect Film purchased Popular Library, a paperback book company.[5] 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.[5] 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.[4] Perfect Film purchased Desilu Studios in 1968.[6]

In March 1969, Perfect Film and Commonwealth United Corporation had tentatively agreed to a merger of Commonwealth and Plume and Atwood.[7] 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.[3] Also in 1969, OSF Industries purchased Desilu Studios from the corporation.[6] Ackerman left Perfect Film In 1969.[8]

Perfect Film sold Popular Library in 1970 to Fawcett Publications[9] In July 1970, Perfect Film agreed to sell its 50.5% ownership in Plume Atwood Industries to Cinerama.[10]

Cadence Industries[edit]

Under president and CEO Sheldon Feinberg,[11] the Company renamed itself Cadence Industries in 1973.[4]

In 1981, Cadence's Hudson Pharmaceutical Corporation hired Venet Advertising to advertise the company's Hudson Vitamins unit, makers of Spider-Man chewable vitamins.[12]

Liquidation[edit]

When Cadence Industries was liquidated in 1986, it sold Marvel Entertainment Group to New World Pictures[1] and Curtis Circulation was sold to Joseph M. Walsh and Hachette Distribution Services.[13]

Units[edit]

References[edit]

  1. ^ a b Hicks, Jonathan (November 8, 1988). "The Media Business; Marvel Comic Book Unit Being Sold for $82. 5 Million". The New York Times. Retrieved 5 May 2011. 
  2. ^ "Weddings; Lori A. Feinberg, Steven C. Kany". The New York Times. September 24, 1995. Retrieved 22 August 2011. 
  3. ^ a b c d Welles, Chris (February 10, 1969). "Post-Mortem". New York. pp. 32–36. Retrieved 5 August 2011. 
  4. ^ a b c d Nadel, Nick (August 31, 2009). "The Strange Business History of Marvel Comics". Comics Alliance. Retrieved 4 May 2011. 
  5. ^ a b c d "Magazines: New Man for Curtis". Time. May 3, 1968. Archived from the original on May 24, 2011. Retrieved 6 August 2011. 
  6. ^ a b "City History & Info". City of Culver City. Retrieved 23 September 2011. 
  7. ^ a b "Merger Near for Perfect". Tri City Herald. March 20, 1969. p. 21. Retrieved 23 September 2011. 
  8. ^ Lambert, Bruce (August 4, 1993). "Martin Ackerman, 61, Publisher; Closed The Saturday Evening Post". The New York Times. Retrieved 08/10/2011. 
  9. ^ "Copyrights of Golden-Age Comics". Golden-Age Comic book Superheroes & Villains Encyclopedia. Retrieved 20 September 2011. 
  10. ^ "Cinerama to Buy Plume & Atwood; Will Acquire 50.5% Interest Held by Perfect Film". The New York Times. July 1970. Retrieved 23 September 2011. 
  11. ^ Ro, Ronin (2004). Tales to Astonish: Jack Kirby, Stan Lee and the American Comic Book Revolution. Bloomsbury USA. p. 179. ISBN 978-1-58234-345-7. 
  12. ^ a b Dougherty, Philip H. (November 9, 1981). "ADVERTISING; Hudson Vitamins Assigned to Venet". The New York Times. Retrieved 23 September 2011. 
  13. ^ a b c d "Joseph Walsh: Executive Profile & Biography". Business Week. August 23, 2011. Retrieved 23 August 2011. 
  14. ^ Mangel, Andy (May 1991). "Reel Marvel". In Jim Salicrup. Marvel Age Issue 100. Marvel Comics. Retrieved 25 October 2011.