Panini To Distribute Bonelli Internationally - But What of Marvel?

I understand that Panini has became the international representant for top Italian comics publisher Bonelli Comics. Hasn’t been announced yet, but any day now.

This is being seen as a possible safeguard for Panini against the very real possibility that Marvel will be withdrawing its licence from the global comics publisher.
Panini has successfully expanded all over Europe and South America on the back of being Marvel’s international licensor. Indeed, when they began to expand, they used the Marvel bankruptcy to negotiate a deal when for a number of years they didn’t have to pay any licensing fees to Marvel at all.
But with Marvel’s tie-up with Disney, and the current battle for the Marvel rights in Italy, where Disney Italia is a big Panini rival, there’s the possibility that Disney see the Panini Marvel market as theirs for the taken if they wish to exploit it.
And as big as Bonelli is, it’s not quite Marvel comics…
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