Stan Lee’s POW In New Film JV

LOS ANGELES: POW! Entertainment is working with Hong Kong-based M&A firm Ricco Capital Holdings and Fidelis Entertainment, led by former THR publisher Eric Mika, on a new financing partnership to develop and produce a film franchise of Stan Lee’s superheroes for the global market, with a particular focus on Asia.

The new venture, Magic Storm Entertainment, will develop film projects that will appeal to Asian markets and broader global audiences. The details of the first title will be released later this summer. Magic Storm is a joint venture of Ricco Capital—set up to create investment opportunities in China—and Panda Media Partners, a joint venture of POW! Entertainment and Fidelis Entertainment, which was formed last year to develop financing opportunities for entertainment with pan-Asian appeal. Magic Storm will be headquartered in L.A. with Eric Mika, ex-publisher of The Hollywood Reporter, as CEO.

Mika commented, "Stan Lee’s work has always been ground-breaking, and his new characters and stories will be even more relevant to film audiences in China and beyond. Magic Storm Entertainment will not only enable these stories to reach Stan’s global fan base, but also provide a market entry platform for global brands into China and Chinese brands to the West."

Stan Lee, CCO of POW! Entertainment, noted, "I have been eagerly awaiting this great opportunity, a chance to combine the best of American superhero epics with the best of Chinese and Asian classical filmmaking for a motion picture that would be excitedly received worldwide."

Gill Champion, the CEO of POW!, added, "We are delighted with this partnership that Fidelis has brought to POW! from China. Together we will seek to produce universally appealing films and franchises that provide a powerful platform for our brands to reach a growing consumer audience throughout China and Asia, as well as the rest of the world. Our first project will be announced in the very near future."

"Stan Lee is a global icon whose characters and brands have generated more than $6 billion at the global box office and sparked vast international toy, video game and merchandise sales," said Wu Siu Chung, the chairman of Ricco Capital Holdings. "Magic Storm Entertainment will leverage that appeal with Ricco Capital’s development fund."