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EA and Marvel Enter Agreement for New Fighting GamePosted on Friday, February 06, 2004 @ 01:54:00 pm E.S.T
Electronic Arts (Nasdaq:ERTS) and Marvel Enterprises, Inc. (NYSE:MVL) announced today that they have entered into an agreement, whereby EA will develop a new generation of fighting video games pitting Super Heroes from the Marvel Universe against a new, original set of EA heroes.
Under the multi-year agreement, EA has been granted a license to develop and distribute fighting games featuring the Marvel Super Heroes. Additionally, EA has granted Marvel the exclusive rights as worldwide licensing agent for all consumer products and media licensing for the new EA heroes. Marvel will publish new comic books introducing the EA characters. Financial terms of the agreement were not disclosed.
"This is a tremendous opportunity for EA to create new characters for fighting games that can be exploited through our global merchandise licensing machine to fuel sales in many other product categories," said Allen Lipson, President and CEO of Marvel Enterprises.
"It's a unique opportunity, partnering with Marvel to bring their renowned Super Heroes into original videogame environments, as well as providing us an opportunity to create new heroes that will live in games, comic books and other licensing or media opportunities that Marvel presents," said John Riccitiello, President and COO for Electronic Arts. "Fans of both traditional Marvel comics as well as video games have a lot to be excited about as they will be able to fight it out between established Marvel Super Heroes and EA's new heroes in original scenarios," added Riccitiello.
The Marvel and EA Super Hero based fighting games are currently under development for multiple game platforms at EA's studio, EAC, in British Columbia. The license grants EA the rights to develop game titles for all current and next generation videogame consoles, handheld platforms and PCs.
About Marvel Enterprises
With a library of over 4,700 proprietary characters, Marvel Enterprises, Inc. is one of the world's most prominent character-based entertainment companies. Marvel's operations are focused in three areas: entertainment (Marvel Studios) and licensing, comic book publishing and toys (Toy Biz). Marvel facilitates the creation of entertainment projects, including feature films, DVD/home video, video games and television based on its characters and also licenses its characters for use in a wide range of consumer products and services including apparel, collectibles, snack foods and promotions. Marvel's characters and plot lines are created by its comic book division which continues to expand its leadership position in the U.S. and worldwide while also serving as an invaluable source of intellectual property.
About Electronic Arts
Electronic Arts (EA), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, Electronic Arts posted revenues of $2.5 billion for fiscal 2003. The company develops, publishes, and distributes interactive software worldwide for video game systems, personal computers and the Internet. Electronic Arts markets its products under three brand names: EA SPORTS(TM), EA GAMES(TM), and EA SPORTS BIG(TM). EA's homepage and online game site is http://www.ea.com . More information about EA's products and full text of press releases can be found on the Internet at http://info.ea.com .
Except for any historical information that they contain, the statements in this news release regarding Marvel's plans are forward-looking statements that are subject to certain risks and uncertainties, including a decrease in the level of media exposure or popularity of Marvel's characters, financial difficulties of Marvel's licensees, changing consumer preferences, movie- and television-production delays and cancellations, toy-production delays or shortfalls, continued concentration of toy retailers, toy inventory risk, the imposition of quotas or tariffs on products manufactured in China and a decrease in cash flow even as Marvel remains indebted to its noteholders. These and other risks and uncertainties are described in Marvel's filings with the Securities and Exchange Commission, including Marvel's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Marvel assumes no obligation to publicly update or revise any forward-looking statements.
Electronic Arts, EA, EA SPORTS, EA SPORTS BIG, and EA GAMES are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners.
MARVEL, and Marvel characters are (C) and trademarks of Marvel Characters, Inc., and are used with permission. Copyright (C) 2004 Marvel Characters, Inc. All rights reserved. http://www.marvel.com .
Super Heroes is a co-owned registered trademark. Posted By: Adam Paoli - 201 Reads
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