Key points:
- Genius Brands announce 20-year deal with Marvel Studies for the licensing of comic-creator Stan Lee
- Marvel now has the rights to use Stan Lee's name, voice, likeness and signature in future productions
- GNUS stock currently trades down 46% year over year
- key point
Entertainment company Genius Brands (NASDAQ: GNUS) soared as much as 38% in Wednesday premarket trading, before erasing some gains with the opening bell. GNUS shares are currently trading up around 25% in early trading, with investors reacting well to a company announcement that the company’s controlled venture with POW! Entertainment – ‘Stan Lee Universe’ – has signed a 20-year deal to license the name and likeness of Stan Lee to Marvel Studios for the use in future films and television productions, as well as granting rights for use in Disney theme parks and global experiences.
Officially, Marvel now has the rights to use Stan Lee’s name, voice, likeness and signature within movies, TV projects, and images and footage that already exists of Stan. Financial details of the deal are yet to be publicized, but a 20-year license was enough to tempt buyers this morning.
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Andy Heyward, Chairman and CEO of Genius Brands stated:
“We are proud to be the stewards of the incredibly valuable rights to Stan Lee’s name, likeness, merchandise, and intellectual property brand”
Adding…
“There is no better place than Marvel and Disney where Stan should be for his movies and theme park experiences. As we enter the centennial year of Stan’s birthday, December 28, 2022, we are thrilled to see his memory and legacy will continue to delight fans through this new long-term agreement with Marvel.”
Factoring in today’s bull surge, GNUS stock is still down 25% YTD, and down 46% year over year.
