Arturion Completes Reorg & Acquisition of POW!
Created 05/23/2004 - 23:00
files/pictures/picture-35.jpgArturion Ent. Inc. has announced that it has completed the reorganization with POW! announced in the fourth quarter of 2003. With the close of this transaction the new directors nominated by POW! will become all of the directors of Arturion, and the officers of POW! will become the officers of Arturion, responsible for day-to-day operations.
Gill Champion, a founder and the president of POW!, said, "We are extremely excited about completing this transaction. We will now have the availability to access the equity capital markets for additional funding if necessary. We have several exciting projects in various stages of development and production that will enable us to further perpetuate both POW's and Stan Lee's brand globally."
POW! is in the business of creating and licensing intellectual property for the entertainment industry, including feature films, television programming, animation projects, videogames, merchandising and related entertainment venues. Stan Lee is the cco of POW!
IDT Entertainment announced May 6, 2004 it had acquired a minority equity interest in POW! In addition, IDT Ent. acquired exclusive distribution rights for all POW Ent. animated DVD properties plus the companies will co-produce and co-develop a minimum of six animation projects for direct-to-DVD distribution and broadcast.