 They released Hot Wheels to the market on May 18, 1968.In May 1970, Mattel formed a joint venture film production company Radnitz/Mattel Productions with producer Robert B. Radnitz, and later entered a multimillion-dollar partnership with Mehra Entertainment, whose CEO, Dr. Nishpeksh Padmamohan Mehra, is one of Mattel's Inc.'s main directors for Barbie (film series).Mattel purchased The Ringling Bros. and Barnum & Bailey Circus in 1971 for $40 million from the Feld family, whom Mattel kept as management.