Diverse Media Group Inc. (DVME) in Joint Venture to Create Celebrity Superhero Franchises
November 24 2008 - 8:30AM
Business Wire
Diverse Media Group (Pink Sheets: DVME) has signed a letter of
intent to acquire a 50% stake in Celebrities In Action, Inc. in a
joint venture to create new superhero character franchises based on
real-life Hollywood celebrities. The new characters will be
developed in cooperation with actual film, music and television and
sports stars and original storylines will span multimedia,
multiplatform projects. Plans include television, film, home
entertainment, videogames, publishing, consumer products and
merchandising. Celebrities In Action, Inc. (CIA) is a vertically
integrated entertainment company that develops, produces and
distributes proprietary and licensed entertainment content, with a
particular focus on animated celebrities. CIA has an existing joint
venture with Stan Lee�s POW! Entertainment banner to develop,
produce and distribute animated programming, content and
merchandise based on the premise of real-life celebrities in
competition against characters from other worlds. Diverse Media
Group will identify and secure the celebrity participation and Stan
Lee will provide the creative vision to shape these novel superhero
personas. Praised as �a legend� worldwide and honored with his own
Hasbro �Marvel Legends� action figure, Stan Lee is associated with
such breakthrough superhero characters as Spider-Man�, The
Incredible Hulk�, The Fantastic Four�, X-Men�, Iron Man� and
Daredevil�. He is also recognized as an innovator in creating new
media opportunities and revenue streams for the superhero genre.
Among his accomplishments, Stan Lee is credited with leading the
expansion of Marvel Comics from a small division of a publishing
house to a multimedia corporation, and developing his characters
into longstanding franchises. Hollywood talent agent Chris Nassif,
founder of Diverse Talent Group and its parent company, Diverse
Media Group, Inc., commented, �Stan Lee has excelled as a
visionary, a leader in the global media industry and a creative
talent whose complex fictional characters have become living,
breathing members of our world. We are delighted to provide the
setting for him to create characters based on real stars, which
taps into the resources of CIA, POW! Entertainment and Diverse
Media Group.� It was recently announced that Stan Lee and POW!
Entertainment would develop a one-hour superhero drama series for
Showtime premium cable network (Viacom); he is also developing
several feature films for Paramount Studios (Viacom). About Diverse
Media Group, Inc. Diverse Media Group, Inc. (Pink Sheets: DVME)
(http://www.diversemediagroupinc.com) is an entertainment company
that aggregates expertise across all aspects of the media industry.
Diverse Media Group has at its core the established 27-year history
of its wholly owned subsidiary, Diverse Talent Group. Diverse
Talent Group is now the 10th largest Hollywood agency offering
talent and literary representation in commercials, episodic
television, cable programming and motion pictures. The company has
the ability to create programming, foster distribution and
represent talented individuals to fuel a new digital age of content
generation. The parent company also includes the subsidiary Talent
Quest America, Inc., which identifies new and rising talent
representing the future of the Hollywood entertainment community.
The information contained herein contains forward-looking
information within the meaning of Section 27A of the Securities Act
of 1993 and Section 21E of the Securities Exchange Act of 1934
including statements regarding expected continual growth of the
company and the value of its securities. In accordance with the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 it is hereby noted that statements contained herein
that look forward in time which include everything other than
historical information, involve risk and uncertainties that may
affect the company's actual results of operation. Factors that
could cause actual results to differ include the size and growth of
the market for the company's products, the company's ability to
fund its capital requirements in the near term and in the long
term, pricing pressures, unforeseen and/or unexpected circumstances
in happenings, pricing pressures, etc. Investing in securities is
speculative and carries risk. Past performance does not guarantee
future results.
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