Valiant Entertainment, the publisher of such comics as Bloodshot, Harbinger and X-O Manowar, has been acquired by DMG Entertainment.
The news comes even as Valiant eyed moves into film, with planned live-action adaptations of Bloodshot and Harbinger envisioned as the foundation for a five-picture shared cinematic universe.
DMG, which co-produced Looper and Iron Man 3, already held a 57 percent stake in Valiant, by according to The Hollywood Reporter, the company wanted full ownership to better enable growth into film, television and other platforms. In a statement, DMG CEO Dan Mintz made it clear the decision is fueled by movies, not comics publishing.
Founded in 1989 with former Marvel Comics Editor-in-Chief Jim Shooter, Valiant was sold in 1994 to game developer and publisher Acclaim Entertainment, only to be shuttered a decade later when the company declared bankruptcy. In 2005, a group led by Dinesh Shamdasani and Jason Kothari acquired the rights to the Valiant catalog and, as Valiant Entertainment, relaunched the fictional universe in 2012.
Shamdasani, who had served as Valiant's CEO, is "transitioning out of the company" following the purchase. A Valiant representative confirmed to CBR that Shamdasani, Gavin Cuneo and Peter Cuneo will resign from their respective roles as CEO/CCO, COO and chairman under the terms of the deal, but Shamdasani and Gavin Cuneo will remain involved with the company in a consulting role.
Mintz told THR that Valiant will continue publishing monthly comics, all the while aiming for other mediums and platforms.
“You can expect more strong storytelling with a defined road to other platforms,” he said. “I’m also looking forward to bringing the writers close to the filmmaking process, which is something that is also important, and not keeping them siloed into the comic book area.”
Note: This article was updated at 2:27 p.m. ET