Mego Co. was founded in 1954 and started in 1971 purchasing license rights to a variety of successful motion pictures, television programs, and comic books, to produce toy lines for Planet of the Apes, Star Trek, and the Wizard of Oz.
Mego used various licensed superhero characters to create their World's Greatest Superheroes line, which became their most successful toy line. They also produced an original character, Action Jackson, an unsuccessful competitor of Hasbro's G.I. Joe.
The secret of Mego's success was that their action figures were constructed with interchangeable heads. Generic bodies could be mass produced and different figures created by interposing different heads and costumes on them. They also constructed their figures primarily in an 8 inch scale - setting an industry standard in the 1970s.
The company also created the Mego Kresge cards, also known as the "Mego Bubble Card." This style of card placed the clear plastic bubble containing the action figure in the middle of the card.
The firm first attempted a fashion doll line in the early 1970s to compete Barbie with Maddie Mod, and boyfriend Richie. Unfortunately, this line wasn't a success. They also created a pose-able eight inch scale of a Barbie-like doll, 1973's Dinah-Mite.
In 1975, Mego launched a highly successful celebrity doll line, and the first were Sonny & Cher, with Bob Mackie designing an extensive wardrobe for Cher. Then in 1976 Mego added the Lynda Carter Wonder Woman doll line. Jaclyn Smith, Farrah Fawcett, Suzanne Somers, Diana Ross, and The Captain and Tennille dolls followed in 1977.
Mego added Superman figures from the 1978 movie, as well as all members of rock band Kiss. Gene Simmons had a specially molded head created to allow him to stick out his tongue.
Mego is also known for their Micronauts toys and figures.
Mego filed for bankruptcy in 1982.