LOS ANGELES, CA and NEW YORK, NY - January 20, 2004 2004 - Marvel Enterprises, Inc. (NYSE:MVL) today announced the hiring of David Maisel as President and Chief Operating Officer of Marvel Studios. Mr. Maisel will report directly to Avi Arad, Chairman and CEO of Marvel Studios.
Marvel Studios' mission is to maximize the financial and creative success from each entertainment project that is based on Marvel's vast universe of over 4,700 characters. This includes determining the best strategy for third-party, non-recourse financing and for the distribution of a wide variety of new entertainment projects including: films for theatrical release, direct-to-video and DVD projects, television programming, and live theatrical productions.
Since the launch of its feature film slate in 1998, Marvel's seven character-based feature film releases have grossed over $2 billion in worldwide box office receipts and have captured the #1 position in each of their opening weekends. In testament to Marvel's strong brand awareness, such films have generated over $1 billion in worldwide DVD/Video wholesale sales. Mr. Maisel will work on expanding Marvel's success into new entertainment arenas as well as maximizing the commercial success of Marvel Studios' future feature film releases. Four feature films based on Marvel characters will be released in 2004: The Punisher (April 16), Spider-Man 2 (July 2), Blade 3: Trinity (August), and Man-Thing (October).
Commenting on the appointment, Marvel Studios' CEO, Avi Arad, stated, "Marvel has an incredibly strong and still under-utilized library of intellectual property, with a vast array of characters that can be developed for various demographic groups. Marvel Studios will focus on unlocking the value of more of our characters through new entertainment projects that specifically target those demographic groups that most heavily purchase DVDs and video games. Additionally, many of our characters that have not yet been exposed to a broad demographic audience will benefit from the visibility gained via Marvel Studios-developed entertainment projects. I look forward to working with David in taking advantage of this great opportunity and together making Marvel Studios a significant contributor to Marvel's financial results and the continued growth in the strength of the global Marvel brand."
Mr. Maisel has over 15 years of diverse entertainment industry experience. For the past two years, he has headed Endeavor Agency's Corporate Strategy and Business Development. Mr. Maisel began his agency career at Creative Artists Agency in 1994, working closely with CAA founder Michael Ovitz to facilitate deals like Matsushita's sale of MCA Universal to Seagram in 1995. He later joined The Walt Disney Company, as Director of Corporate Development and Strategic Planning. Following his time at Disney, Mr. Maisel was named President of Livent, Inc., a publicly traded live theatrical production company, where he successfully piloted the company's restructuring and sale to SFX Entertainment, now part of Clear Channel. Mr. Maisel is a graduate of Harvard Business School.
Allen Lipson, Marvel President and CEO commented, "David will play a crucial role in spearheading major strategic growth initiatives for Marvel Studios, including securing third-party, non-recourse financing for new entertainment projects. These initiatives will serve the important goal of increasing the exposure, awareness and value of the Marvel brand, while maintaining Marvel's strict investment and cost disciplines."
