Marvel Entertainment, LLC, formerly Marvel Enterprises and Toy Biz, Inc., is an American entertainment company formed from the merger of Marvel Entertainment Group, Inc. and Toy Biz, Inc. In 2009, The Walt Disney Company acquired Marvel Entertainment, Inc. for $4 billion.It has been a limited liability company (LLC) since then. As of August 2012, Marvel is the highest-grossing movie franchise, with a total of over $5 billion. Marvel Entertainment, LLC, a wholly-owned subsidiary of The Walt Disney Company, is one of the world's most prominent character-based entertainment companies, built on a proven library of over 8,000 characters featured in a variety of media over seventy years. Marvel utilizes its character franchises in entertainment, licensing and publishing.