Mego Corporation produced action figure toys during the 1970s and dominated the action figure toy market during that period. The Mego Corporation was founded in the early 1950s by David Abrams and was mostly known prior to 1971 as a producer of dime store toys.
Starting in 1971, Under the direction of David Abram's son Martin, Mego began purchasing license rights to a variety of successful motion pictures, television programs, and comic books, and started producing lines for Planet of the Apes, Star Trek, and the Wizard of Oz. Mego used various licensed Marvel and D.C. superhero characters to create their World's Greatest Superhero 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.
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. Mego also constructed their figures primarily in an 8-inch scale.
In 1972, The Mego made a landmark deal and secured the licenses to create toys for both DC Comics and Marvel Comics. During this time period, Mego released the very first ever comprehensive line of DC and Marvel character action figures and coined the term "World's Greatest Super Heroes!" to umbrella the name for all the figures released in this line. The popularity of this line of 8" figures created the standard scale for the 1970s and featured several popular superhero and villain figures.
The earliest Batman and Robin figures had removable masks but they were easily lost and Mego noted that it was less expensive to create a new sculpt for Batman with a molded on mask and simply painted the mask onto Robin. Mego was a true pioneer in action figure development.
They were offered for an entire decade from 1972 until 1983. To start the line, Mego introduced Batman, Robin, Aquaman and Superman.  The complete offering of DC Comics figures where Aquaman, Batgirl, Batman, Catwoman, Green Arrow, Isis, Joker, Mr. Mxyzptlk, Penguin, Riddler, Robin, Shazam, Supergirl, Superman, Tarzan, Teen Titans and Wonder Woman. Marvel Comic figures where Captain America, Conan,  Falcon, Green Goblin, Hulk, Human Torch, Invisible Girl, Iron Man, Lizard, Mr. Fantastic, Spider-Man, The Thing and Thor.
In 1975, Mego launched a highly successful 12 1/2 inch celebrity doll line, to directly compete with Mattel's Barbie. The first dolls were Sonny and Cher, then added the Lynda Carter Wonder Woman doll line in 1976. Farrah Fawcett, Jaclyn Smith, Diana Ross, Suzanne Somers, and The Captain and Tennille dolls followed in 1977.
From 1976-1980 they produced the Micronauts to compete with Kenner's Star Wars. The Micronauts line was licensed from Japanese toy maker Takara, and based on that company's Microman line of toys.
Mego added 12 1/2 figures from the Superman movie in 1978, as well as the members of the rock 'n' roll band Kiss. A specially molded doll head of Gene Simmons was made to show the tongue sticking out.
A small collection of military-themed action figures were also released in the early 1980s, called "Johnny Action or Combat Man" and released in 1976 under different names. Using the same 6-inch format, they were produced after the 12-inch G.I. Joe figures had lost their popularity and before the revival of the G.I. Joe line in 3-3/4" format. The 6-inch combat line was not a success, and knockoff figures were also released for companies like Woolworth's.
In 1976, David Abrams rejected a deal to license toys for the upcoming motion picture Star Wars. Following Star Wars' great success, Mego negotiated the licenses for the manufacturing rights to any and all potentially successful science fiction motion picture and television shows, in hopes of finding a similar hot property. They produced 12-1/2 inch figures for Moonraker, Buck Rogers in the 25th Century, The Black Hole, Star Trek: The Motion Picture. None of these were as successful as Kenner's Star Wars products, although they were of much higher quality than Kenner's unsuccessful 12" figures.
In 1982 Mego filed for bankruptcy, and by 1983, the Mego Corporation ceased to exist