Joint Venture to Create Celebrity Superhero Franchises

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Diverse Media Group Inc. said Monday it plans to acquire a 50 percent stake in Celebrities In Action Inc., which has a joint venture with Stan Lee’s POW! Entertainment to create superhero character franchises based on real-life Hollywood celebrities.

Century City-based Diverse Media said characters will be developed in cooperation with film, music and television and sports stars. Original storylines will span multiplatform projects such as film, videogames, and consumer products.

Celebrities In Action is a vertically integrated entertainment company that develops, produces and distributes proprietary and licensed entertainment content, with a focus on animated celebrities. Diverse Media will identify and secure the celebrity participation, and Lee will provide the creative vision to shape the superhero personas, Diverse Media said.

Los Angeles-based POW! Entertainment last year signed an exclusive content deal with Walt Disney Studios, giving the studio first shot at films, TV shows, books and video games devised by the 84-year-old Lee, who recently received a National Medal of Arts and the National Humanities Medal. It was unclear from Monday’s announcement whether Celebrities In Action properties could be covered by that deal.

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