Publisher announces change after asset sale

Virgin Comics is now Liquid Comics courtesy of a management buyout of the company’s remaining assets.

Virgin announced the closure of its Gotham headquarters in August, claiming that it was moving its base of operations to L.A.

In fact, liquidity was part of the problem at the old Virgin imprint.

The brand was stymied by low sales of its comicbooks, which were short on major names in the comicbook biz (with the exception of writer Garth Ennis) and sported concepts centered mostly around Indian mythology and thus struggled to find readers in the U.S.

It was, however, able to set up various graphic novels with Hollywood talent – John Woo, Jenna Jameson, Ed Burns, Jonathan Mostow, Guy Ritchie, Hugh Jackman and Nicolas Cage, among others – and it set up adaptations of those projects around town at various shingles and studios.

Yet since none of the movies have been produced, none of the deals have generated any revenue.

Liquid didn’t comment on plans to actually continue publishing comicbooks, instead opting to focus on digital versions of its various characters. The new owners are the publisher’s founding management team: Gotham Chopra, Sharad Devarajan and Suresh Seetharaman.

“We’re looking at different syndication systems and so forth,” Devarajan said. “We’re trying a lot of different approaches to packaging and pricing.”

Devarajan wouldn’t comment on the status of the company’s projects with its various partners, which include “The Stranded” at Sci Fi Channel, “Virulents” at New Regency and a deal with Stan Lee to create several new superheroes.

Instead, Devarajan said the company would be focusing overseas.

“We’re looking around the world for new talent,” he said.

(Marc Graser in Hollywood contributed to this report).

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