Under the terms of the agreement, Lee and his production company will develop and produce all forms of entertainment.

"As the father of such renowned comic book heroes as Spider-Man, The Hulk, X-Men among others, Stan is considered one of the most creative and inventive forces in the industry today. His innate talent of tapping into the human qualities of his super hero characters has certainly struck a chord with generations of audiences and readers around the world," stated Cook in making the announcement. "We are honored to be working with someone as formidable as Stan and his production company and welcome them to the Disney family."

"It's like the realization of a dream. Ever since I was a young boy, Disney represented the best and most exciting film fare to me. And now, many decades later, with movies such as their incredible Pirates of the Caribbean spectaculars, Disney is still at the forefront of family entertainment, excelling in live action, animation, TV, theme parks -- whatever it takes to bring fun and fantasy to audiences everywhere. I look forward with indescribable enthusiasm to being a part of that world and contributing whatever I can to keep the legend alive and growing," said Stan Lee, chairman of POW! Entertainment.

Oren Aviv, president, Walt Disney Studios Motion Picture Production, added, "Stan Lee is a living legend in the world of pop culture and his characters and stories have been the inspiration for some of Hollywood's biggest blockbusters. We're very excited to be working with him and his talented team in creating some incredible new motion picture experiences. Stan has so many fantastic new ideas for films, and we can't wait to get started." Bob Chapek, president, Walt Disney Studios Home Entertainment, was instrumental in bringing this deal to Disney and will work closely with Lee on many of his projects.

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