Stan Lee, the cartoon hero creator who gave Spider-Man his powerful "spidey-sense," is feeling a tingling of his own - in his wallet.
A Manhattan federal judge has ruled that Lee is entitled to a potential multimillion-dollar payday from Marvel Enterprises from profits generated by the company's TV and movie
productions, particularly the box-office smash Spider-Man, which earned more than US$800 million ($1.16 billion) worldwide and its successful sequel.
"It could be tens of millions of dollars," Howard Graff, attorney for Lee, said. '
The ruling found that Lee was entitled to a 10 per cent share of the profits generated since November 1998 by Marvel productions involving the company's characters, including those created by the prolific cartoonist.
John Turitzin, general counsel for Marvel, promised an appeal. Turitzin noted that Judge Robert W. Sweet ruled Lee was not entitled to money from certain movie-based merchandise, and that the judge withheld judgment on money from joint-venture merchandise sales linked to the Spider-Man and Hulk movies. The lawsuit marks an acrimonious final chapter in the long and productive relationship between Marvel and Lee, who spent the last six decades working for the company. Lee created indelible Marvel fixtures such as the X-Men, The Incredible Hulk, Daredevil and The Fantastic Four.
- AGENCIES
