LOS ANGELES, Jan. 2 (UPI) -- The Walt Disney Co. reportedly purchased a 10 percent stake in POW! Entertainment, a production company formed by U.S. comic book creator Stan Lee.
The Hollywood Reporter said Saturday Disney's $2.5 million stake purchase expands the company's ties to Lee's production group as Disney and POW! signed a first-look arrangement in 2007.
The Reporter said Disney is also acquiring exclusive consulting services and unspecified "enhanced rights" from POW!
Lee, who helped form POW! in 2001, is best known for helping create famous comic book characters such as Spider-Man, Iron Man, the Fantastic Four, the Hulk, Daredevil and the X-Men.
The Reporter said Disney's plan to merge with Marvel Entertainment was approved by Marvel stockholders Thursday.
The merger, which is subject to conditions with documents filed with U.S. Securities and Exchange Commission, is estimated to be worth $4.3 billion.