Stan Lee's Pow! Entertainment Launches Film Financing Partnership
Stan Lee's Pow! Entertainment has launched a new film financing partnership with Ricco Capital and Panda Media Partners. Their new venture is called Magic Storm Entertainment.
It will be based in Los Angeles. Fidelis Entertainment’s Eric Mika has been appointed CEO.
Gill Champion, CEO of POW!, said in a statement, “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 US at the global box office and sparked vast international toy, video game and merchandise sales,” said Wu Siu Chung, chairman of Ricco Capital Holdings. “Magic Storm Entertainment will leverage that appeal with Ricco Capital’s development fund.”
“We are delighted that Ricco Capital emerged as partners who fully understand the business value of Stan Lee’s comic book characters and his larger brand, specific to China” said Eric Mika, chief executive officer of Fidelis Entertainment. “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.”