CrossGen Silent on Money Woes
by Douglas Wolk and Calvin Reid -- Publishers Weekly, 1/26/2004
Comics and graphic novel publisher CrossGen's financial troubles don't seem to be going away. The company has issued no public statements about its financial condition since the beginning of October and has not responded to numerous requests from PW for comment.
However, PW has learned that Robert Boyd, a longtime graphic novel marketing professional, has left CrossGen to take a position marketing manga to the book trade for ADV Manga, the newly launched manga publishing program of anime producer and distributor ADV Films. Boyd told PW he left the company "because the financial troubles were keeping us from publishing trade books." Boyd said CrossGen trade books were "on hold and dependent on the company getting new financing."
Many of CrossGen's major periodical titles (which are later compiled into graphic novel collections) are ending earlier than anticipated; early in 2004, the company claims, there will be a crossover series called Negation War that will apparently set up a "new CrossGen." One series, Sigil, was canceled mid-story; CrossGen posted the script to what would have been the final issue online. In November, Ian Feller, the managing editor of CrossGen's Code 6 imprint, was laid off.
The Comics Journal, a comics industry trade news and critical publication, has reported that CrossGen founder and owner Mark Alessi is looking for investors and is willing to sell a controlling interest in the company as long as he can still be involved. CrossGen has also sold off its convention, the Florida MegaCon, and set up a new company, NewCo, to attract investors in return for potential money from movie licensing. (CrossGen has thus far sold options for two series, Way of the Rat and Route 666.)
In addition, Book Wholesalers Inc. (www.bwibooks.com), a wholesaler that serves public libraries, noted in its December online newsletter that "all of CrossGen's spring 2004 titles have been postponed until fall 2004."
