Stan Lee's POW! Entertainment has been acquired by the Hong Kong-based Camsing International Holding, report Deadline. Camsing Chairman/CEO Vivian Lo said the intent behind the acquisition is to "enhance Camsing's comic intellection property creation capability by working with Lee," and also to "develop another 'Marvel' in the Asian market."
“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 Shane Duffy, Camsing's United States Vice President. “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.”
POW! Entertainment was founded in 2001 by Lee, along with Gill Champion and Arthur Lieberman, as a whole for Lee's new creations in comic books, television, film, and other media. With Camsing's acquistion, Lee will relinquish the role of POW!'s Chairman but remain as the company's Chief Creative Officer. Duffy will become POW's CEO, with Champion continuing as President.
“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," said 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.”
Lee would reportedly continue to develop and produce unspecificied POW! projects.