Variety reports that the shutdown of Virgin Comics' New York offices is less a sign of the company going out of business and more about reorganizing as a Hollywood idea farm.
The comics company produced a number of high-quality books with high-profile creators since its inception a few years back. However, in spite of being inseminated with funds from Richard Branson's media empire, Virgin (like so many publishers before them) found the comics industry to be a rocky place where their seeds could find no purchase.
In spite of the books being non-starters with comics buyers, they did manage to create partnerships with Hollywood players like John Woo, Jenna Jameson, Ed Burns, Jonathan Mostow, Guy Ritchie and fan-fave Nicolas Cage. Several such properties have been optioned as movies.
As such, the company is said to be restructuring and will likely open offices in L.A. to quicken the pace of conversion of their comics into film.
Announced film projects include SCI FI Channels 'The Stranded', Guy Ritchie's 'The Gamekeeper', Hugh Jackman's 'Nowhere Man', Ed Burns' 'Dock Walloper', 'Secrets of the Seven Sounds', 'The Leaves', 'The Sadhu', 'Virulents' and 'The Megas' to name a few.