The increasing popularity of chain supermarkets, which did not carry comic books, hurt many comic book publishers that had relied on corner grocers as a primary distribution outlet. In 1968, Goodman sold Atlas, including the Marvel Comics series, to Perfect Film and Chemical Corporation, which was then re-named Cadence Industries. Marvel Comics existed within Cadence as part of a business unit called Magazine Management. By the end of the 1970s, the market for comic books was reduced to an all-time low. Readers had lost interest in comics.