Is there a superhero who saves businesses from liquidation? The Virgin Group has exited Virgin Comics, founded in 2005 by Richard Bransons Virgin Group, filmmaker Shekhar Kapur, author Deepak Chopra, and entrepreneurs Sharad Deverajan, Gotham Chopra (Deepak Chopra’s son) and Suresh Seetharaman who formed the management team. The stake has been picked up by the management team, as per Variety and the official release. Last month, there were rumours of the company being shut down - we'd heard about the Bangalore operations being shut, but we didn't get a response from CEO Sharad Devarajan. Virgin Comics had then announced that the company was being restructured, shutting down its New York office, and moving to LA. What happens to the deals? The newly formed Liquid Comics has 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. At one point, it appeared as if they were announcing a deal every couple of months (if not more). As per the company, Liquid Comics "plans to proceed with a number of the projects (ED: Not all?) previously announced as Virgin Comics and will make announcements shortly regarding those projects and the restructured launch dates." Virgin Comics had focused on creating intellectual property in Bangalore - series like Devi, Shakti, Sadhu, Snake Woman, and then exploiting them across platforms with mobile comics, games, MMOGs, Movies etc. Some thoughts on Virgin Comics, and the Cross-Media…
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