LJN
LJN
 | |
| Type | Subsidiary |
|---|---|
| Industry | Video games |
| Founded | 1970 |
| Founder | Jack Friedman |
| Defunct | 1995 |
| Fate | Dissolved |
| Headquarters | , US |
| Parent |
|
LJN Toys Ltd. was an American toy company and video game publisher based in New York City. Founded in 1970 by Jack Friedman, the company was acquired by MCA Inc. in 1985, sold to Acclaim Entertainment in 1990 and dissolved in 1995.
History[edit]
LJN was founded in 1970 by Jack Friedman, using funds from his former employer, Norman J. Lewis Associates.[1] Friedman served as president of the company.[2] On March 26, 1985, MCA Inc. agreed to acquire 63% of LJN in exchange for $39.8 million in stock.[3][4] The deal closed with a transaction of a total of US$67 million.[5] Following the acquisition, LJN's revenue doubled to $27 million by 1986, and continued to rise into 1987.[5] However, a faulty paint-shooting toy gun manufactured by LJN caused MCA's profits to fall by 79.5%, to $8.1 million, in 1987's second quarter.[6] The same year, Friedman left the company.[1] LJN did not recover, as a result of which MCA announced on January 22, 1990, that they intended to sell the company.[6][7] MCA agreed to sell LJN to Acclaim Entertainment, for an undisclosed sum paid in cash and stock, on March 13, 1990.[8][9] LJN was dissolved in 1995.[10]
Products[edit]
Toys[edit]
Video games[edit]
References[edit]
- ^ a b Nelson, Valerie J. (May 6, 2010). "Jack Friedman dies at 70; toy maker". Retrieved August 26, 2018 – via LA Times.
- ^ "BUSINESS PEOPLE; HEAD OF LNJ TOYS SEES SUCCESS THROUGH 'E.T.'". nytimes.com. Retrieved August 26, 2018.
- ^ HARRIS, KATHRYN (March 27, 1985). "MCA Agrees to Acquire L.J.N. Toys : Entertainment Firm to Exchange Up to $39.8 Million in Stock". Retrieved August 26, 2018 – via LA Times.
- ^ "MCA Acquisition". nytimes.com. Retrieved August 26, 2018.
- ^ a b Fabrikant, Geraldine. "MCA TURNS HAND TO ACQUISITIONS". nytimes.com. Retrieved August 26, 2018.
- ^ a b Jr, JUBE SHIVER (January 23, 1990). "MCA to Sell LJN Toys Unit After Losses". Retrieved August 26, 2018 – via LA Times.
- ^ "COMPANY NEWS; MCA Taking Loss In Sale of Toy Unit". nytimes.com. Retrieved August 26, 2018.
- ^ Writer, From a Times Staff (March 13, 1990). "MCA Agrees to Sell Ailing Toy Unit". Retrieved August 26, 2018 – via LA Times.
- ^ "MCA in Pact With Acclaim". nytimes.com. Retrieved August 26, 2018.
- ^ "Wow, LJN really hated kids". Destructoid.
- 1970 establishments in New York (state)
- 1995 disestablishments in New York (state)
- Companies based in New York (state)
- Defunct toy manufacturers
- Defunct video game companies
- Manufacturing companies disestablished in 1990
- Manufacturing companies established in 1970
- Toy companies of the United States
- Video game companies disestablished in 1995
- Video game companies established in 1970
- Video game companies of the United States
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