Hong Kong based investment company Camsing International Holding has purchased Stan Lee’s POW! Entertainment, and, according to a report from Deadline, plans to use it to create “another ‘Marvel’ in the Asian market.” While POW! Entertainment doesn’t exactly have the same back catalog of well known intellectual properties that the actual Marvel has used to create several lucrative multimedia franchises, the purchase of the company does come with one very important bonus: Stan “The Man” himself!
Lee will remain as Chief Creative Officer for the company, and Deadline’s report notes that Lee refers to the acquisition as a “merger” and that he plans to stay on and be involved in the creation of new properties. “Excelsior,” we assume he added, though it wasn’t explicitly mentioned in the report.
As part of the traditional corporate ceremony that always marks occasions such as these, new POW! CEO Shane Duffy and Camsing CEO Vivian Lo traded courteous statements loaded with industry buzzwords.
“Adding Stan Lee’s Pow! Entertainment to the Camsing Family and having the distinct pleasure of working with the icon himself, marks an extraordinary opportunity for Camsing,” said Duffy. “It will be a true pleasure to bridge our full portfolio of marketing platforms, distribution channels and theme parks around Stan’s endless list of unreleased IP laden entertainment properties. We are excited that he has allowed us to participate in his next chapter and look forward to strengthening his already guru metal legacy.”
“I believe the merger will bring significant synergy by combing POW!’s existing intellectual property library and Camsing’s strong IP merchandising network in China, therefore creating value for our shareholders,” responded Lo. “At the same time, this deal will enhance Camsing’s comic intellectual property creation capability by working with Lee, who is a global proven name. The group will continue to produce better products and content for its global customers and develop another ‘Marvel’ in the Asian market.”
“Excelsior!” added Lee, we’re certain, though it wasn’t mentioned explicitly in the report.