On 19 January 2015, an indirectly wholly-owned subsidiary of the Company and POW! Entertainment, LLC (“POW!”, a wholly-owned subsidiary of POW! Entertainment, Inc. (“POW! Entertainment”) whose common stock is quoted on the OTCQB Market in the U.S.) entered into a term sheet (“Term Sheet”) for the formation of an U.S. joint venture company (“US Joint Venture Company”) with respect to the development, production, and distribution of projects based on certain characters and other content developed by POW! or by the two parties jointly for distribution throughout the world. The US Joint Venture Company is to be owned as to 75% by the Group and 25% by POW!.
It is also contemplated that POW! will make Mr. Stan Lee available for a digital facial scan for the exploitation by the US Joint Venture Company of contents exhibiting Stan Lee’s likeness in virtual human format based on such scan, on terms to be agreed by the parties to the Term Sheet.
Mr. Stan Lee, founder of POW!, is the chairman of the board, director and chief creative officer of POW! Entertainment. POW! Entertainment is a multimedia production and licensing company that creates and licenses animated and live-action fantasy and superhero entertainment content and merchandise, leveraging the creative output and branded image of Stan Lee. Mr. Lee currently remains chairman emeritus of Marvel Entertainment, LLC, as well as a member of the editorial board of Marvel Comics. Mr. Lee was employed on a full time basis by Marvel Comics or its predecessor entities for over 50 years. He started in the comic book industry in 1940 when he started with Timely Comics which eventually became Marvel Comics. Mr. Lee’s co-creations include Spider-Man™ 1, The Incredible Hulk™ 1, X-Men™ 1, The Fantastic Four™ 1, Iron Man™ 1 and hundreds of others. He introduced Spider-Man™ * as a newspaper strip which became the most successful of all syndicated adventure strips having appeared in more than 500 newspapers worldwide.
1 These are the registered trademarks and characters of Marvel Characters, Inc.
* All trademarks are owned by Marvel Entertainment, LLC.
For details, please refer to the Company’s announcement dated 19 January 2015.
The partnering of the two creative forces (Digital Domain and POW!) will include the development of a broad range of original content. Using the innovative and ground breaking technology of Digital Domain, the yet to be named U.S. Joint Venture Company will launch with a future live action event. In addition, Digital Domain plans to use its ground breaking and Academy Award winning MOVA technology to, with the blessing of Mr. Stan Lee, create a virtual likeness of the legendary POW! founder.
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