Disney buys into Lee’s POW!

Disney has extended its relationship with comic book icon Stan Lee, acquiring a 10% stake in Lee’s media company Purveyors of Wonder (POW!) for US$2.5m.

Walt Disney Studios entered into a first-look deal with POW! in 2007, and has since worked with Lee on the development of a number of projects.

Under the new arrangement, Walt Disney Studios expands that relationship through enhanced rights to the creative output of POW!, as well as certain exclusive consulting services. The news comes as Marvel shareholders voted to approve Disney’s US$4bn takeover of the comic book empire on New Year’s Eve.

Bob Chapek, Walt Disney Studios’ president of worldwide distribution, said: “Stan has incredible creative energy and continues to come up with great original stories that can work across many of our platforms, ranging from console games to motion pictures and from our boys-focused Disney XD network to mobile devices.

“Put that together with his knowledge and familiarity of the Marvel universe and it makes perfect sense to extend our excellent working relationship with Stan and POW!”