Jakks Pacific Founder Jack Friedman Dies

Friedman founded Jakks Pacific in 1995 and served as chairman and chief executive officer until March 31 of this year. Prior to that, he headed LJN Toys until its sale to MCA in 1985 and then started up THQ in 1989. Friedman is well known for launching the first film-based toys for E.T.: The Extra-Terrestrial, as well as a pioneer in video games.

"Jack was a legendary toymaker and a real titan in our industry," says Stephen Berman, Jakks' chief executive officer. "He dedicated his talents to Jakks Pacific for 15 years, and he will be sorely missed. On behalf of all Jakks employees, we send our sincere condolences to his wife Karen and his children for their loss."