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Ideal Toy Company was founded as Ideal Novelty and Toy Company in New York in 1907 by Morris and Rose Michtom after they had invented the Teddy bear in 1903. The company changed its name to Ideal Toy Company in 1938. In 1982, the company was sold to CBS Toy Company, which itself closed down. Certain brands and toys have been continued through other companies, most notably the Magic 8-ball and Rubik’s Cube.
CBS Inc acquires Ideal Toy Corp (alacrastore.com)