in May 2006, Arad quit as studio chair and CEO. In March 2007, David Maisel was named chairman and Kevin Feige was named president of production as Iron Man began filming. In January 2008, Marvel Animation was incorporated to direct Marvel's efforts in animation and home entertainment markets including then animation efforts with Lionsgate and Nickelodeon. The company in March agreed to a five picture basic cable distribution with FX for Iron Man and The Incredible Hulk movies with the additional movies to be named later. In November, Marvel Studios signed a lease with Raleigh Studios to host its headquarters and production offices and film the next four movies on the studios' slate, including Iron Man 2 and Thor, at their Manhattan Beach facilities. By September 2008, Paramount added to its domestic film distribution contract 5 additional Marvel movies' foreign distribution. In 2009, Marvel attempted to hire a team of writers to help come up with creative ways to launch its lesser-known properties, such as Black Panther, Cable, Iron Fist, Nighthawk, and Vision. In early 2009, Sony returned all Spider-Man television rights (including live-action) in exchange for an adjustment to the movie rights. Disney conglomerate subsidiary On December 31, 2009, The Walt Disney Company purchased Marvel Entertainment for $4 billion. Both Marvel and Disney stated that the merger would not affect any preexisting deals with other film studios for the time being, although Disney said they would distribute future Marvel projects with their own studio once the deals expired. In April 2010, rumors circulated that Marvel was looking to create $20–40 million movies based on properties such as Doctor Strange, Ka-Zar, Luke Cage, Dazzler, and Power Pack. Kevin Feige responded by saying, while budgets are generally never discussed early in development, Marvel was considering films for all characters mentioned in the rumor, except Dazzler, whose rights were at Fox. In June 2010, Marvel Entertainment set up a television division within Marvel Studios, headed up by Jeph Loeb as Executive Vice President, under which Marvel Animation would be operated. On October 18, Walt Disney Studios Motion Pictures acquired the distribution rights for The Avengers and Iron Man 3 from Paramount Pictures with Paramount's logo and credit remaining on those films. On August 22, 2011, at Disney's behest, the Studio dismissed most of its marketing department: Dana Precious, EVP of Worldwide Marketing; Jeffrey Stewart, VP of Worldwide Marketing and Jodi Miller, Manager