Tuesday, January 25, 2005

'nuff paid!

Stan Lee wins "Marvelous" payout as co-creator of Spiderman!

Stan Lee, who was a co-creator of Spiderman and many other
"Superheroes" for Marvel Enterprises, has been told by a Manhattan
court that he is entitled to 10% of the profit his characters produced.

Stan Lee, who is 82, sued Marvel in November 2002 for failing to honour
an agreement giving him a 10% interest in the profits. Lee signed a new
agreement with Marvel in November 1998, after the company was bought by
ToyBiz Inc, but because of an "accounting" problem, they refused to pay
this percentage.

The court decision will result in an a payout expected to run into many
millions of dollars, although the exact figure is not yet known.

Lee also created the Incredible Hulk and the X-Men and although he was
happy with the decision made by the Judge, he commented "Since I am
deeply fond of Marvel and the people there, I sincerely regret the
situation had to come to this"

Both Spiderman movies have taken more than $800 million each at the box
office and sales from related goods will add another $100 million to
this figure.

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