Does Hasbro have the rights to produce any characters from the 70's Micronauts Marvel Comic?? I know certain characters such as Karza, Force Cmdr, Acroyer and Pharoid are owned by someone else but I would love to have Cmdr. Rann, Marionette, Bug, Lady Cilicia and Huntarr to add to my other figures. (especially BUG!!)
That depends on how the contract w/Marvel was done in the past. GENERALLY speaking though, if the character first appears in a licensed comic book, its rights go to the licensor.
Case in point: Transformers comics, also by Marvel, done a few years later. GB Blackrock was made for the TF comics, and Hasbro owns the rights to it. Circuit Breaker, a prominent human, first appeared in a Marvel comic (Secret Wars II) then was brought into the TF comics. They did that on purpose so Marvel retained rights to the CB character. Hasbro doesn't have rights to her.
So, it depends on what Hasbro has the right to produce from whoever owned whatever. IF Takara got the rights for Pharoid, Karza, etc after the initial run (OR Hasbro or Takara-Tomy bought out the company who did) then yes, Hasbro can do them. If not, then not likely.
So, it's possible, but beyond what I said above, I don't know. I don't know who owns what chars and who owns what companies.