After the overwhelming and over-expectations success they had with “Iron Man” this summer, Marvel and Viacom’s Paramount signed a new deal and renegotiated their distribution rights. The companies are expected to work together on not just a sequel of the movie that brought them together, but also a third “Iron Man,” coming out in a few years.

The previous deal stated that Marvel would retain six key international markets and sell the rights to local distributors, but after “Iron Man” grossed $574 million worldwide this year, Paramount decided to embrace the Studio and landed all worldwide theatrical distribution rights on the five releases at a slightly reduced fee, as opposed to the original agreement. Out of the 10% distribution fee, Paramount will only get 8%, but it sure seems like a pretty decent amount of money, considering the movie’s earnings. Marvel will also have approval on Paramount's P&A budgets and reimburse Paramount for its expenses.

Marvel Studios chairman David Maisel says in a statement that the decision of the two studios pairing up came quite natural. "Once we realized the next four movies, it became a priority to formalize the new distribution arrangement, and our first choice was to do it with Paramount. It made sense to try and continue the relationship."

The next movies to be released under the joint companies are the much expected “Iron Man II,” to be in cinemas starting May 7, 2010, dangerously close to yet another successful fantasy, Disney and Walden Media’s "The Chronicles of Narnia: Voyage of the Dawn Treader." Other films are "The First Avenger: Captain America,” to be released May 6, 2011 and "The Avengers" (July 15, 2011), as well as a never-before mentioned “Iron Man III.”

The Paramount people seem to be as excited as Marvel about working together. “Coming off of ‘Iron Man’s’ incredible success this summer, we could not be more excited about extending our relationship with Marvel,” said Rob Moore, vice chairman of Paramount Pictures. “Marvel's iconic brand, its popular characters and its proven ability to create compelling and visually spellbinding films complement Paramount’s great history of filmmaking. We look forward to a long and successful run together.”

Happily, this is not the only reunion, as actor Robert Downey Junior is reportedly coming back to portray the wealthy industrialist and genius inventor dressed in a metal suit, at least for the sequel. The flying superhero has been around for a solid 40 years and has been the idol of millions of children all around the world.

Marvel Entertainment, Inc. is one of the largest character-based entertainment companies in the world, with over 5,000 characters featured in a variety of media over seventy years. Nothing goes to waste, as there is an increased demand of superhero material. Everything, from comic book to film, from consumer products to toys, video games, animated television, direct-to-DVD and online this company makes and now they will be launching it in style, with the help of Paramount.