Comic book icon Stan Lee’s POW! (Purveyors of Wonder) Entertainment is deepening its ties with The Walt Disney Company. The new arrangement sees Disney getting a 10% stake in the company, enhanced rights to POW!’s creative output, along with certain exclusive consulting services, in exchange for US$2.5 million.

Walt Disney Studios entered into a first-look deal with POW! in 2007 and since then has worked closely with Lee on the development of a number of projects. Disney plans to use Lee’s original stories across various platforms, ranging from console games to motion pictures and from the boys-focused Disney XD network to mobile devices.

The agreement dovetails with Disney’s now-complete US$4.3-blillion acquisition of Marvel Entertainment, the company that owns the most iconic characters associated with Lee, including Spider-Man, The Incredible Hulk and X Men.

Under the terms of this agreement, and based on the closing price of Disney shares on December 31, 2009, Marvel shareholders will receive a total of US$30 per share in cash plus approximately 0.7452 Disney shares for each Marvel share they own.

Marvel’s assets include a library of over 5,000 characters featured in a variety of media over 70 years and businesses, including licensing, movie production and publishing.