Virgin Comics has been acquired by Liquid Comics in a management buyout led by the founding management team of Gotham Chopra, Sharad Devarajan, and Suresh Seetharaman.  Richard Branson's Virgin Group is no longer involved with the company as it “focuses on its core activities in North America,” according to a spokesperson.  The acquisition follows the shutdown of the comic company’s operations last month (see “Virgin Despoiled”). 

Liquid said in its announcement that it “…plans to proceed with a number of the projects previously announced as Virgin Comics,” and that it ”…will make announcements shortly regarding those projects and the restructured launch dates.” 

Both assets and liabilities of Virgin Comics were acquired as part of the management buyout.  The company was behind on its payments to creditors when it shut down and unpaid liabilities remain.