Marvel Names Leading Venture Capitalist James W. Breyer To Its Board Of Directors
Breyer Has Been Closely Involved as an Investor with over Twenty-five Successful Start-up Internet and Technology Companies.
New York, New York – June 21, 2006 -- Marvel Entertainment, Inc. (NYSE: MVL), a global character-based entertainment and licensing company, announced today that it has named James W. (“Jim”) Breyer, age 44, a General Partner of the Silicon Valley-based venture capital firm, Accel Partners, to its Board of Directors. The appointment, effective immediately, increases the size of Marvel’s Board to seven members, five of whom are independent directors.
Mr. Breyer is a prominent venture capitalist and investor with a broad range of management, strategic planning, corporate development, and finance experience. He has particular expertise and passion for investing in consumer Internet, technology, digital media, and entertainment companies. He has been responsible for Accel’s investments in over twenty-five companies that have completed successful public offerings or successful mergers. He is deeply respected as an innovative investor and strategist and for understanding, valuing and nurturing the creative process within companies in which he has invested. Recently, he has also led Accel’s investment strategy and efforts in China.
Mr. Breyer is on the Board of Directors of Wal-Mart Stores, Inc., where he is the Lead/Presiding Independent Director and Chairman of the Strategic Planning and Finance Committee, and on the Board of RealNetworks. He also serves as an Investor/Board Member of a number of privately held Internet companies including Brightcove, Facebook and Prosper, and also serves on the Strategic Investment Committee/Board of Accel-KKR (a partnership with Kohlberg, Kravis and Roberts) and the IDG-Accel China Fund. Mr. Breyer is a member of the Board of Dean’s Advisors to Harvard Business School and is Chairman of the Stanford Engineering Venture Fund.
Marvel’s Chairman, Morton Handel, commented, “Jim is a highly accomplished, successful businessman, venture capitalist and strategic thinker who brings substantial experience to our board. We are thrilled that he shares our enthusiasm for the value and potential of Marvel and our portfolio of intellectual property. Jim’s experience will be particularly helpful to our long-range strategic planning efforts in the areas of new media, e-commerce, technology and international opportunities.”
Commenting on his appointment, Mr. Breyer said, “I have long been a fan of the Marvel characters and Marvel’s creativity. The revolution taking place in media, entertainment, content distribution and consumption offers Marvel unique opportunities to expand the reach of its intellectual property in exciting new ways. I look forward to helping shape that process.”
Mr. Breyer graduated with a BS degree from Stanford University and earned an MBA degree from Harvard Business School where he was named a Baker Scholar.
With a library of over 5,000 proprietary characters, Marvel Entertainment, 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 publishing segment that continues to expand its leadership position in the U.S. and worldwide while also serving as an invaluable source of intellectual property.
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.
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