The Walt Disney Company bought Marvel Entertainment for $4 billion. Disney is a large conglomerate that owns many smaller companies, while Marvel was previously an independent comic book publisher that faced bankruptcy in the 1990s. The deal increased Disney's influence in the film industry by gaining the rights to popular Marvel characters like Iron Man and Avengers, allowing Disney to appeal to both male and female audiences. However, Disney does not own the full rights to all Marvel characters like Spider-Man. The acquisition was a major event that impacted ownership structures in Hollywood.