In fall 1968, Goodman sold Magazine Management to the Perfect Film & Chemical Corporation. Goodman remained as publisher until 1972, which included supporting Lee's decision to disregard the Comics Code Authority's disallowance of an "The Amazing Spider-Man" anti-drug themed story-arc requested by the US Department of Health, Education and Welfare, which discredited the censor. Two years later he founded a new comics company, Seaboard Periodicals, which published under a new Atlas Comics imprint and is known to collectors as "Atlas/Seaboard Comics". It shut down the following year.