Disney Lays Off Marvel Entertainment Chairman Ike Perlmutter in Cost Cutting Campaign

Isaac “Ike” Perlmutter, 80, was laid off by Disney on Wednesday. He was given the news over the phone, The New York Times reported.

Perlmutter was the CEO and chairman of Marvel Entertainment and remained so when he sold the company to Disney in 2009 for $4 billion. However, during his nearly three decades at Marvel, Perlmutter stirred controversy with a myriad of scandals from supposedly bribing the NYPD to expedite the process of renewing his gun license to being notoriously frugal for the sake of profit.

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