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The story, as related in Sean Howe's Marvel Comics: The Untold Story, is that in 1984, Warner Bros thought DC was dead weight and offered it to Marvel. They thought their management was far more superior since the books they were putting out were selling better and so they thought the a take over would be the best thing for them at DC. -
The deal was that Marvel would have continued to publish DC's seven most popular properties -- Superman, Batman, Wonder Woman, Green Lantern, Justice League, Teen Titans and Legion of Super-Heroes -- and would have had room to expand the line later if they so chose. -
Marvel apparently declined, thinking that the reason DC was failing was the characters, not the management, and that it was unlikely it would have been a profitable venture for Marvel. -
Ironically, of course, a little over a decade later, Marvel spiraled into bankruptcy and before it was totally out, they had their fair share of potential buyers, too such as Michael Jackson (as we previously have posted on).
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