Movies

Film financing firm floated for global markets

MUMBAI: Ricco Capital Holdings, a Hong-Kong-based merger and acquisition boutique, and Panda Media Partners, a joint venture of Fidelis Entertainment and Stan Lee‘s POW! Entertainment, have joined forces to create Magic Storm Entertainment.
 
The film financing partnership will develop and produce a new franchise of Stan Lee‘s superheroes for the global marketplace, including China.
 
Magic Storm Entertainment will develop film projects that leverage Stan Lee‘s global legacy, with new entertainment content that is positioned to appeal to Asian markets and broader global audiences. Details of the first film project will be released later this summer.


Magic Storm Entertainment will be based in Los Angeles. Fidelis Entertainment‘s Eric Mika has been appointed CEO and will oversee all future entertainment business development opportunities for Ricco Capital. Magic Storm Entertainment is represented by James Thoma, Reed Smith, LLP.


Pow! Entertainment chief creative officer Stan Lee who co-created Spider-Man, Iron Man, X-Men, Hulk and hundreds of other superhero comic book characters, said, "I have been eagerly awaiting this great opportunity, a chance to combine the best of American superhero epics with the best of Chinese and Asian classical film-making for a motion picture that would be excitedly received worldwide."


The first project will be announced soon.


Ricco Capital Holdings chairman Wu Siu Chung said, "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. Magic Storm Entertainment will leverage that appeal with Ricco Capital‘s development fund."

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