Decline
In 1976, David Abrams rejected a deal to license toys for the upcoming motion picture Star Wars, as Martin Abrams was currently hashing out a deal with Takara to bring Micronauts to the United States and was of the opinion that they would go bankrupt if they made toys of every "flash in the pan" sci-fi B movie that came along. This decision seemed of little consequence to Mego at first, although the movie was extremely popular and competitor Kenner Products sold substantial numbers of Star Wars action figures.
Following Star Wars' great success, Mego negotiated the licenses for the manufacturing rights to any and all potentially successful science fiction motion picture and television shows, in hopes of finding a similar hot property. They produced 12½ inch figures for Moonraker, Buck Rogers in the 25th Century, The Black Hole, Star Trek: The Motion Picture. None of these were as successful as Kenner's Star Wars products, although they were of much higher quality than Kenner's unsuccessful 12" figures.
In 1982 Mego filed for bankruptcy, and by 1983, the Mego Corporation ceased to exist under that name and is now known as Abrams Gentile Entertainment LLC.
Read more about this topic: Mego Corporation
Famous quotes containing the word decline:
“I rather think the cinema will die. Look at the energy being exerted to revive it—yesterday it was color, today three dimensions. I don’t give it forty years more. Witness the decline of conversation. Only the Irish have remained incomparable conversationalists, maybe because technical progress has passed them by.”
—Orson Welles (1915–1984)
“The decline of a culture
Mourned by scholars who dream of the ghosts of Greek boys.”
—Stephen Spender (1909–1995)
“The chief misery of the decline of the faculties, and a main cause of the irritability that often goes with it, is evidently the isolation, the lack of customary appreciation and influence, which only the rarest tact and thoughtfulness on the part of others can alleviate.”
—Charles Horton Cooley (1864–1929)