Nope. The '94 contract specifically grants Universal the rights "in
perpetuity" (legalese for "forever or they don't want them anymore") while Universal still has a Marvel presence inside their Orlando parks.
This is the breakdown...
- Universal has the theme park rights to most Marvel characters EAST of the Mississippi. There are some exceptions, mostly characters debuted after 1994
- Characters may be used by any other theme park WEST of the Mississippi
- Theme park usage of characters used by Universal Studio Orlando are not allowed to be marketed East of the Mississippi
- Theme park usage of character NOT used by Universal Studio Orlando is allowed to be marketed within 300 miles of Orlando
- Universal owns the word "Marvel" for ALL theme park usage EAST AND WEST of the Mississippi. That means Disney cannot use the the word "Marvel" in theme parks or theme park marketing, even at Disneyland Resort
To re-iterate this last point, Disneyland/DCA will be rolling out a new "super hero" land at DCA with new "super hero" rides, but CANNOT use the word "Marvel."
Universal has the Simpsons rights sewn up until at least 2028, which is the earliest Disney can truly exert pressure on Comcast to trade for Marvel rights. Everyone expects Universal would prefer to keep Springfield over Marvel, the only true Marvel-centric ride at IOA is Spider-Man, everything else is the equivalent of an overlay.