20th Century Fox has acquired “a significant minority stake” in Boom! Studios, a company with which Fox already has a first-look feature film television deal, as reported by Deadline.
Boom! has been seeking investment capital so that it can expand its operations since February. The publisher plans to use the money to develop more comics and hire more creators.
Fox and Boom! are already collaborating to bring several of the publisher’s IPs to the big screen. Current plans include Mark Waid’s Irredemable, James Wan’s Malignant Man, Cullen Bunn’s The Empty Man and Justin Jordan and Ariela Kristantina’s Deep State. While most of those are still in fairly early stages of development, Annabelle‘s John Leonetti is slated to direct Keith Giffen and Kody Chamberlain’s Tag. Leonetti’s Annabelle was one of the most profitable films of 2014, bringing in $255.2 million worldwide on a budget of around $5 million.
Boom! and its imprints — including KaBoom!, Archaia and Boom! Box — have a number of desirable IPs, including Lumberjanes and The Woods. The publisher and its creators co-own the rights to its comics, which might mean some complications when figuring out deals for feature and TV rights.
Fox is no stranger to making movies based off comics. The company currently owns the rights to rights to the X-Men and Fantastic Four, and has had recent success — both financial and critical — with Deadpool and Logan.