The reports started circulating yesterday that Virgin Comics, founded by Sir Richard Branson and Indian based Gotham Comics were shutting the print comic division down.Â Today the news is clarified as Virgin released the following statement pertaining to the New York offices:
NEW YORK, NY, August 26, 2008 ” Virgin Comics announced today that it will be reorganizing its operations and closing its New York office to consolidate in an LA base.
The Company is currently working with management to restructure the business and will release its future plans in the next few weeks.
Sharad Devarajan, CEO, said, â€œWe remain excited about the business and partnerships we have built through Virgin Comics and are working towards a restructuring that properly takes the business forward. The decision to scale down the New York operations and concentrate on core activities is due to the current macro-economic downturn and is in no way a reflection on the dedicated and valuable employees we have had the privilege to work with.â€
While many think the world revolves around New York, considering the company is moving and restructuring to the L.A. offices seems like a smart move – especially with the number of movie properties it is trying to develop. Of course no word was given on the state of any of the projects announced at SDCC, except for the vague open-ended statement by Devarajan.
On further reflection, I wonder if the company would be doing any better had we not blasted the company’s Jenna Jameson Shadow Hunter when it first came out.