What if News Corporation acquired Marvel Entertainment Group in 1989?

On January 6, 1989, Ronald Perelman's MacAndrews & Forbes Holdings bought Marvel Entertainment Group from New World for $82.5 million. The deal did not include Marvel Productions, which was folded into New World's TV and movie business. In 1993 and 1994, Marvel's holding companies, Marvel Holdings, Inc. and Marvel Parent Holdings, Inc., were formed between Andrews Group and MEG. The companies issued over half a billion dollars in bonds under the direction of Perelman, which was passed up in dividends to Perelman's group of companies. On June 2, 1998, ToyBiz and Marvel Entertainment Group were merged into Marvel Enterprises to bring it out of bankruptcy. On August 31, 2009, The Walt Disney Company announced a deal to acquire Marvel Entertainment for $4 billion, with Marvel shareholders to receive $30 and approximately 0.745 Disney shares for each share of Marvel they own. The voting occurred on December 31, 2009 and the merger was approved. The acquisition of Marvel was finalized hours after the shareholder vote, therefore giving Disney full ownership of Marvel Entertainment. The company was delisted from the New York Stock Exchange under its ticker symbol (MVL), due to the closing of the deal.

But what if News Corporation acquired Marvel Entertainment Group instead of Ronald Perelman's MacAndrews & Forbes Holdings in 1989?

This theory is interconnected to What if DreamWorks Pictures was founded in 1980 as The Geffen Film Company?

List of Changes

 * Marvel Entertainment Group will be part of News Corporation (1989-1990), Fox Entertainment Group (1990-2001), and Disney–ABC Enterprises (2001-present).
 * Marvel Productions will still be part of Marvel Entertainment Group until it was transferred to Fox Entertainment Group (1990-2001), and then Disney–ABC Motion Pictures Group through Disney–ABC Enterprises (2001-present).
 * The rights to Batman 1966 TV series and Movie would be sold to Warner Bros., since Marvel was owned by News Corporation (1989-1990), Fox Entertainment Group (1990-2001), and Disney–ABC Enterprises (2001-present).
 * Marvel Home Entertainment will be formed as a home video label of CBS/FOX Video (1990-1991), Fox Video (1991-1995), 20th Century Fox Home Entertainment (1995-2001), and Disney–ABC Home Entertainment Group (2001-present).