IDT Entertainment today announced that it has acquired a minority equity interest in POW! Entertainment LLC, headed by comic book legend Stan Lee. In addition, IDT Entertainment has acquired exclusive distribution rights for all POW! Entertainment animated DVD properties. The companies also announced they will co-produce and co-develop a minimum of six animation projects for Direct-to-DVD distribution and broadcast. Stan Lee, Chief Creative Officer of POW! Entertainment, is well known as the co-creator of Spider-Man, The Hulk, The Fantastic Four, X-Men, Daredevil and other famous comic book superhero characters. IDT Entertainment is a subsidiary of IDT Corporation, a multinational carrier, telephone and technology company.
“Evil doers beware, here comes the next generation of superheroes,” said Jim Courter, IDT’s CEO. “This new venture linking IDT Entertainment with the legendary Stan Lee will create new classic characters for today’s generation that will rival the popularity of his original comic book creations.”
According to the terms of the agreement Stan Lee will create original characters for six new animated productions in a series entitled, “Stan Lee Presents.” Initial plans have identified direct-to-video and broadcast as potential distribution channels.
“IDT Entertainment is bringing the creative genius of Stan Lee into homes worldwide,” said Morris Berger, CEO of IDT Entertainment. “Now for the first time, Stan will have the power of IDT Entertainment’s Global Animation Studio at his disposal and guaranteed distribution to his core audience through our subsidiary Anchor Bay. These new properties will be perfect additions to Anchor Bay’s compelling catalog of DVD titles.”
Stan Lee is the inventor of the modern comic superhero. A prolific author, Lee revolutionized the comic book industry by creating compelling characters who, despite extraordinary powers and talents, are none the less plagued by the same doubts and difficulties experienced by ordinary people. Some of his most enduring characters, like Spider-Man, The Hulk and X-Men, have been spun off into television programs and feature films that have grossed hundreds of millions of dollars at the box office.
“This joint venture with IDT Entertainment is a creative dream come true,” said Stan Lee, Chief Creative Officer of POW! Entertainment. “I feel like a kid in a candy store. I can’t wait to see how IDT Entertainment transforms my new characters and stories into spectacular 3-D animated form.”
Source: IDT Corporation