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Our looks like entertainment comic books in particular Peter studios -- -- no -- turner -- companies at Marvel Comics from bankruptcy.
-- it still to Disney for four billion dollars when I was that I a variety of projects on his plate including another content that's company.
I comics let's find out joining us now is Peter Kenny -- managing partner -- new companies -- venture capital from and it spend Gavin partner Canadian company as well.
So -- taxi to the business we'll start with you Peter up comic books.
Well first of all it's a lot of fun.
And also the world of media and entertainment if if you know what you're doing it can be very very attractive financially as well.
That a lot of people are amazed by the fact that comic -- still happening with consumers today.
There's a digital side of comic books which is still just barely a fraction of the whole industry.
Why haven't comics -- in the way of her face similar challenges if you will of newspapers -- magazines.
You're right that most of the printed material business print -- oriented businesses around the world are suffering because of the digital revolution.
But comic books are a pretty unique.
Business and we often say that we think that the comic book industry is the most profitable print publishing business in the world.
And this has to do with the collect ability.
Of comic books and the unique community of -- -- -- -- fans that exist Friday.
Older or younger people going not really buying comic books and and keeping them as well.
Collecting them now yes and and and.
There is a digital business growing it is not cannibalize the print business at all yet.
And it may not.
But the print -- -- digital businesses allowing new new readers -- more casual readers to come into the business.
And it's allowing older fans fans have.
Great comic books when they were younger that left the business to come back to the business so we have sixty year -- And -- I would imagine that the meat from comic book page to the movies and -- toys and merchandise that follows is awfully profitable as well.
You -- just congratulations announcing a deal with Columbia for your blood shot character.
The -- comments from what I understand says that character was introduced to us back in the early ninety's so tell me if you will about the process of decision making the business strategy involved in determining.
Which comic book character jumps from the page to that excrete.
Political -- -- characters have highly high relevance on the big screen.
Jumping from the pages from comparable to the big screen is is not a big lead content of every comic book character resurrect the same way it's like that manner Superman Spiderman -- and -- X-Men -- Georgetown.
Correct I think if accomplish character -- the comp a community given the influence of the communities connect it's gonna resonate more widely -- China's example sold over seven million comic books over the course of its history.
So it has resonated with a very influential community within a very Smart community that that will translate into the and he actually published text that you put out -- comics and you monitor which ones are not most popular where the demand isn't where the most popular characters happen to be.
-- and -- owns some of the most popular -- which is what.
Attracted us to -- first and we see in the dying characters characters like that like Iron Man and morals.
Biggest successful characters that made that move to the big screen there's a lot of similarities.
Between the dying characters and history of -- itself.
So Peter you -- the conduct our business makes so much sense -- -- -- need to turn around what were they doing wrong how did you change it.
Well I often don't try to criticize the management that was in a certain place bad -- half mile high and we don't we we lead the fraternity CEOs doesn't like to do that.
-- -- let's say that I think is imported -- what we did.
And you know I was the CEO at -- for about four years and then vice chairman for another six years.
And we have a lot of great help but when you look for a turnaround particularly consumer products -- media and entertainment.
You're looking for three things you looking either for.
And then their -- in this case to be intellectual property like Iron Man that we're just looking at exactly -- that people know and have known it have a lot of love for a long time exactly correct.
You also -- looking for a unique talent if you can find that.
And then finally you looking hopefully to have a capital structure that will allow you to go forward without disruption.
And that marvel when I first went to more normal in 1990 -- and that's why I sort tremendously unique assets in -- 7000 characters.
Owned and controlled.
Another key to Entertainment Tonight media is to own and control -- pure IP -- most people don't actually.
Own and control.
Have to have a what's the plan with valiant would you like to do a deal similar that today marvel deal -- his -- He -- of course personal that.
That's a no brainer and we're building the comical because it's now -- -- are -- looking to -- -- -- mean is that our unit whereas -- early stages and -- -- a lot of growth in front of us were rebuilding the console business were launching in print to digital publishing and in May of this year.
We've announced our first movie deal and there's a lot of other movie projects in the works in the works for us now and we're going to build a very similar amounts to what marvel house which had -- plan.
Going across the board play and toys and other consumer products I want to just expand ask about a couple of companies 'cause you got all kinds of things in video games entertainment companies.
So what's the next VC investments here until -- I guess they about a couple other recent investments yeah once a company called here attainment which is a children's entertainment company targets demographic of six to ten year olds.
It's before it's based in online gaming which is where children are today.
And they have a massive multiplayer game tell us about it.
Right yeah they have kids they spent all -- time doing that would you got a terrible way.
Yes so we have massive multiplayer game called your utopia for launching a number of mobile games and from there -- to -- that intellectual property and expand into television -- toys.
And so very similar business plan -- -- -- valiant but but a little bit different with the kind of crossover advantages with all these businesses.
Sure -- the kinds of companies that that that these does is would be doing business with -- are similar and and one of the things that we look for an investment opportunities where our network can bring value to.
And our portfolio companies.
Very good thank you so much -- really nice to -- -- best of luck.
With everything -- Peter and cats to be here -- say no guarantee burning on your company venture cap.
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