The Lionel Corporation entered the leisure marketing business, including Kiddie City, with the acquisition of Leonard Wasserman Company in August 1969. Lionel was not in that retail space back to 1960 but Wasserman was. Lionel Kiddie City lasted until the liquidation of the original The Lionel Corporation in June 1993.
Also, when General Mills formed MPC, it acquired the rights to use the Lionel name and manufacture trains, for which it paid royalties. It never bought the train business, which was still owned by The Lionel Corporation.
Richard Kughn bought the rights to manufacture Lionel trains without paying future royalties, which he had been paying. Lionel Leisure etc. was not part of the agreement.
(My sources are the Lionel Annual Reports and internal Lionel executive documentation.)
Bob Osterhoff
