Marvel Studios

After the success of this summer's blockbuster "Iron Man," Paramount Pictures and Marvel Studios have extended their distribution deal for five more movies. Under the agreement, Paramount will take a smaller distribution fee from Marvel -- 8% rather than the 10% it had received for releasing "Iron Man" -- in exchange for gaining worldwide distribution rights to the pictures. Paramount, which released the action movie in the U.S.

In welcome news for the sluggish local film production economy, Marvel Studios has reached an agreement to film four of its superhero movies at Raleigh Studios in Manhattan Beach. Marvel said it would shoot the sequel to its hit film "Iron Man" at Raleigh, in addition to "Thor," "First Avenger: Captain America" and "The Avengers." Those films are set for release in 2010 and 2011 and will be distributed through Paramount Pictures.

The gig: Chairman of Marvel Studios, the producer of this year's hits "Iron Man" and "The Incredible Hulk," and executive vice president of its publicly traded parent company Marvel Entertainment, which controls a library of more than 5,000 comic book characters including Spider-Man and X-Men.

Marvel Entertainment Inc. said Avi Arad, the head of its film studio unit, was resigning to produce his own films. Marvel said Avi Arad Productions would make films under its own name for Marvel. Arad and his team produced movies including "X-Men: The Last Stand," "Spider-Man," "Hulk" and "The Fantastic Four." Taking over at Marvel Studios are President Michael Helfant and production head Kevin Feige.

Advertisements will adorn the bases at big league baseball games next month in a marketing deal major league officials say adds to the entertainment value of the game but critics say brings unnecessary commercialism onto the field of play. The marketing partnership between Sony Corp.

It was a diamond within a diamond within a diamond, a 4-inch-by-4-inch swatch of red on a white base on a dirt-brown infield. Smaller than a bag of peanuts, smaller than a box of Cracker Jack, it caused the sport of baseball to sputter and actually concede a possible mistake, which is a kind of superpower Spider-Man no doubt would like to learn. One day after Major League Baseball announced plans to load the bases with advertising for the upcoming movie "Spider-Man 2," the bags are empty again.

Scott Sassa, who resigned last month from a top-ranking position at Turner Broadcasting System, is expected to take the helm of New York financier Ronald Perelman's ailing Marvel Entertainment Group, according to television sources. Sassa could not be reached for comment Monday. But television sources say the 37-year-old executive is preparing to move from Atlanta to New York to become chief executive of the financially troubled comic book company.