Thursday, November 1, 2018

Thursday's Headlines - Dark Horse News

Dark Horse Entertainment CEO/Founder Mike Richardson has confirmed that Vanguard Visionary Assets has acquired an ownership take in the comic book his company as part of the recently-announced financing deal. In an interview with ICv2, the 68-year-old executive/writer said that he retained a "large chunk" of ownership in the company and outlined what the investment will fund.

"[Vanguard's investment will go] into a number of areas, including a stock purchase... a development fund and a film fund, investment in the publishing and product divisions, and expansion of our retail efforts," said Richardson.

Vanguard's investment is in Dark Horse Entertainment LLC, which includes Dark Horse Comics, Dark Horse Studios, and the retail comic book store chain Things From Another World.

"I did this deal to accelerate company growth. Nothing like cash and new markets to help with that task," said Richardson. "We started out working with them to build a film fund. The deal expanded into other areas as we continued down that path."

When asked if the recent loss of several key licenses including Star Wars, Conan, Buffy the Vampire Slayer, and Firefly and if that influenced this decision to sell a portion of the company in exchange for financing, Richardson shot down that notion.

"I get tired of hearing that," said Richardson. "We are large enough and diverse enough that, while I don’t like losing them, those licenses were easily replaced from a financial perspective."