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LJN was a toy and video game company located in New York City. The company was founded in 1970 by Jack Friedman, using funds from his former employer, Norman J. Lewis Associates. Friedman served as president for the company. On March 26, 1985, MCA Inc. agreed to acquire 63% of LJN in exchange for $39.8 million in stock. The deal closed with a transaction of a total of $67 million. Following the acquisition, LJN's revenue doubled to $27 million by 1986, and continued to rise into 1987. However, a faulty toy gun manufactured by LJN caused MCA's profits to fall by 79.5%, to $8.1 million, in 1987's second quarter. The same year, Friedman left the company. LJN did not recover, as a result of which MCA announced on January 22, 1990, that they intended to sell the company. MCA agreed to sell LJN to Acclaim, for an undisclosed sum paid in cash and stock, on March 13, 1990. LJN was dissolved in 1995.
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