Virgin Comics has shut down its New York office, reports Newsarama; over the past week or so, we’ve heard murmurs about the company closing down operations in India as well, and we have written to Virgin Comics CEO Sharad Devarajan for a confirmation or a denial of the same.

Publishers Weekly reports that Virgin Comics is being restructured, and the company will relocate to LA, and this will not have an impact on the Gotham Entertainment, which produces comics in Bangalore.

Virgin Comics has, over the past couple of years, inked significant deals in India with Studio18, UTV, Jump Games, Cricketer Sachin Tendulkar, and actress Priyanka Chopra, as well as international deals with filmmakers John Woo, Guy Ritche, Terry Gilliam, among others. They’ve focused on creating intellectual property in Bangalore – series like Devi, Shakti, Sadhu, Snake Woman, and then exploting them across platforms with mobile comics, games, MMOGs, Movies etc. A couple of Indian companies have been eying a similar model – ACK Media, which acquired Amar Chitra Katha, and Geodesic, which acquired Chandamama.

Virgin Comics was founded in 2005 by Richard Branson and the Virgin Group, and author Filmmaker Shekhar Kapur, author Deepak Chopra, and entrepreneurs Sharad Deverajan, Gotham Chopra (Deepak Chopra’s son) and Suresh Seetharaman.

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