Project Webisodes Invade Asia
Source: Backstreet News
LOS ANGELES, Aug. 15 /PRNewswire/ -- Stan Lee Media, Inc., (Nasdaq: SLEE - news), the multimedia production, marketing, and licensing company founded by pop-culture icon Stan Lee, announced today it has reached an agreement with Venture Soft Co., Ltd., Asia's leading creator and aggregator of anime and manga, to form a joint venture that will bring the U.S. company's globally branded superhero and fantasy story franchises to Asia.
The Asian joint venture -- to be called SLM Japan -- comes on the heels of a similar agreement between Stan Lee Media and Fox Kids Latin America. Like the Latin American deal, it reflects Stan Lee Media's long-term strategy of partnering with strong regional communication companies to introduce its branded content via the Internet and then leveraging it into globalpartnerships. Initially, SLM Japan will produce, distribute, license, and market Japanese and Korean versions of all of Stan Lee Media's Webisodes -- as the company's animated Internet series are known -- including its flagship series ``7th Portal'' and ``The Backstreet Project,'' a new series featuring super-hero alter-egos of the international pop sensations, The Backstreet Boys. SLM Japan will also have the option to extend distribution of these, and other Stan Lee Media entertainment franchises, to all of Asia.
Under terms of the agreement, which followed Venture Soft's commitment to invest at least $5 million in Stan Lee Media, Stan Lee Media and Venture Soft will own equal shares in the joint venture. Venture Soft will also assist SLM Japan in moving towards an IPO in Japan.
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