Genius will develop about seven properties a year out of 100 original creations including Tomorrow Men, Stringbean, Black Fury and Virus.
The deal gives the new entity rights “in perpetuity, to the name, physical likeness, physical signature, live-action and animated motion picture, television, online, digital, publishing, comic books, merchandising and licensing to the IP, Genius said.
Financial terms weren’t announced. The agreement is subject to due diligence. Genius Brands will be the managing and controlling partner of the joint venture.
A very enthusiastic chairman-CEO of publicly traded Genius, Andy Heyward, said, “In all of Hollywood, there is no greater prize. This is the Holy Grail. Stan Lee Universe is a once in a lifetime asset drawn from over 100 original, heretofore unexploited properties, created by the most successful creator of intellectual property of our time.”
“I have no doubt that the greatest characters, the greatest stories, and the greatest hits from the mind of Stan Lee have yet to be told,’ he said.
David Newman, chief content officer of Genius Brands’ new Kartoon Channel, said spinoff opportunities could include a dedicated Stan Lee Universe program block.
Marvel was sold to Walt Disney in 2009 for $4.4 billion with Stan Lee IP including The Avengers, Spider-Man, Iron Man, Black Panther, The Incredible Hulk, X Men, Thor, Ms. Marvel, Silver Surfer, Antman, Nick Fury and Guardians of the Galaxy. The iconic creator passed away in 2018 at age 95.