From publisher blurb:
The Threat Report is formatted as an update from AEGIS, the American Elite Government Intervention Service, the government agency in the World of Freedom tasked with handling super-powered menances. In particular, initial Threat Reports deal with increased activity coming out of Emerald City on the west coast, to tie-in with the forthcoming Heroes Journey adventure series, also set in Emerald City. Things are happening in the city, and your heroes need to know!
The report is introduced by an AEGIS field agent and includes a complete character sheet with M&M Third Edition game information on the profiled villain. It also includes the villain's background and various ways to use the character in your own game. Each Threat Report is illustrated and, as a bonus, includes the villain's game information in Hero Lab format, so you can import it right into the character management software and use it right away!