NEW YORK, NY, September 24, 2008 - Liquid Comics has completed the management buyout
of Virgin Comics led by the founding management team of Gotham Chopra, Sharad Devarajan
and Suresh Seetharaman. Liquid Comics will continue to develop innovative
digital, film, animation, and gaming projects for its original character, stories
and other properties.
Commenting on the change, Sharad Devarajan said, "Virgin Group has been a fantastic
partner with whom to work and together we have established a strong foundation of
great character properties and media partnerships.
We remain fully committed to continuing our mission to provide a home for innovative
creators and storytellers across the world."
Virgin Group senior vice president of corporate development Dan Porter added, "The
management team has a track record of great relationships with artists and media
partners. Under this new ownership structure, the company is well positioned for
future growth in the rapidly changing global comic space. As Virgin Group focuses
on its core activities in North America, we wish them well in building their exciting
business."
Founded in 2005, Virgin Comics is a character entertainment company that has forged
partnerships with Warner Brothers, New Regency, Sony Online Entertainment, Sci Fi
Channel, Studio 18, UTV and others. Under the new Liquid Comics name, the
management team plans to proceed with a number of the projects previously announced
as Virgin Comics and will make announcements shortly regarding those projects and
the restructured launch dates.
