Stan Lee’s POW! Entertainment, Genius Brands strike joint deal
Lee is created comics like Spider-Man and Black Panther
Fox Business Briefs: Disney is bringing the Marvel Universe to its California Adventure Park with 'Avengers Campus,' a fully immersive experience featuring rides and in-person encounters; U.S. travel and tourism industry could lose at least $24 billion in foreign spending according to new data from Tourism Economics.
Genius Brands International has reached a joint venture deal with Stan Lee's POW! Entertainment to acquire the name and post-Marvel IP, according to a statement.
Specific terms of the deal were not included in the companies’ announcements, the agreement with POW! and Genius Brands, a global brand management company, will include more than 100 original Stan Lee creations to create a "Stan Lee Universe.”
“It’s almost impossible to conceive that one mind created all this wealth. The spinoffs alone defy the imagination,” Andy Heyward, Genius Brands chairman and chief executive officer, said in the statement. “From animated television, to toys, apparel, video games, and every conceivable licensed product imaginable, Stan Lee characters populate the screens and retail shelves worldwide. There is no creator who has influenced pop culture and created more successful entertainment.”
ENNIO MORRICONE, OSCAR-WINNING MOVIE COMPOSER, DEAD AT 91
Digital TV Research analyst Simon Murray argues Disney+ subscriptions will only keep increasing as it launches in more countries.
Lee, the renowned writer, editor and publisher of Marvel Comics, is best known for iconic superhero comic characters like Spider-Man, the X-Men and Black Panther.
Lee, who died in 2018, created POW! in 2001 to manage his creator rights and licenses across multiple mediums, like TV and video games. Marvel Comics was sold to the Walt Disney Company for $4.4 billion in 2009.
Stan Lee IP collection will comprise all characters and IP created by Lee outside of the Walt Disney-owned Marvel Entertainment, according to The Hollywood Reporter. Some of those include Stan Lee’s Tomorrow Men, Stringbean, Black Fury and Virus.
CLICK HERE TO GET FOX BUSINESS ON THE GO
The Stan Lee Universe joint venture will hold global rights to the name, physical likeness, and signature, TV, online, digital, publishing, comic book, merchandising and licensing rights, as well as the live-action and animated motion picture rights to Stan Lee and his IP creations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 114.70 | +0.43 | +0.38% |
CLICK HERE TO READ MORE ON FOX BUSINESS
Genius Brands will become the managing and controlling partner of the venture.