Arturion Ent. Inc. has completed its acquisition of POW! Ent., of which comic book legend Stan Lee is chief creative officer. Under the arrangement, first announced in the fourth quarter of 2003, the new directors nominated by POW! will become the directors of Arturion and POW! officers will become Arturion officers.
POW! is in the business of creating and licensing intellectual property for the entertainment industry, including feature films, television programming, animation projects, video games, merchandising and related entertainment venues.
Earlier this month, IDT Ent. acquired a minority equity interest in POW! Under the terms of that agreement, IDT gets exclusive distribution rights for all POW! Ent. animated DVD properties, and Lee will create original characters for six new animated productions in a series titled Stan Lee Presents. Initial plans have identified direct-to-video and broadcast as potential distribution channels.
Gill Champion, a founder and president of POW!, comments, "We will now have the availability to access the equity capital markets for additional funding if necessary. We have several exciting projects in various stages of development and production that will enable us to further perpetuate both POW’s and Stan Lee’s brand globally.”