Stan Lee targets Asian market

Stan Lee's POW! Entertainment has entered into an agreement to create superhero properties for a Chinese audience.

The former Marvel president's company has teamed up with a Hong Kong investment company to form Magic Storm Entertainment, The AP reports.

Eric Mika, former publisher of The Hollywood Reporter, will serve as chief executive of Magic Storm, which will announce its first film project later this summer.

"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 filmmaking for a motion picture that would be excitedly received worldwide," said Lee.

The report did not indicate whether Lee himself will create new characters and properties for the venture. It was also not confirmed whether the studio will produce live-action or animated features.

Last month, Lee unveiled Blood Red Dragon in collaboration with Todd McFarlane and Japanese rock star Yoshiki ahead of its Comic-Con debut.

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