China’s Camsing International Holding has recently inked an agreement with Stan Lee’s media and entertainment company, POW! Entertainment. Under the agreement, Camsing acquires the library of IPs under POW! Entertainment for use in film, TV, games, virtual reality, animation, live events, tours, comics, and publishing. Camsing is said to be planning to use POW!’s IPs in order to create “another Marvel in the Asian market.”
Stan Lee will continue to be the Chief Creative Officer of POW!, while Camsing US VP Shane Duffy will become the CEO, and Gill Champion will serve as the company president. Lee clarified in a statement that he will still be involved in the development and production of POW! Projects, with the acquisition being beneficial mostly due to the “additional resources” it provides his company.
“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. 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,” shared Lo, Camsing’s Chairman and CEO.