It is probably true to say that at Bleeding Cool we’ve had a bit of fun with Radical Studios, as they burned through hundreds of millions of dollars, employees and concepts with, it seems, little to show for it. Even dropping out of Free Comic Book Day. There were a number of decent comic books along the way, but with no comics to show for themselves for about a year, even while the Oblivion movie still seemed to be happening at Universal, and with funding and operational activities closing that seemed to be that. Another Tekno/Platinum story.
With the bigscreen adaptation of “Oblivion” on the horizon, comicbook publisher Radical Studios has raised $3 million in equity to help broaden its digital strategy and licensing capabilities.
Co-founders Jesse Berger and Barry Levine have been working on the series B funding for months, with the ultimate goal of raising $9.5 million. The $3 million marks the first round and closed last week.
Coin came from WolfIskin Prods., a production shingle best known for its musicvideo work. WolfIskin topper Luisa Iskin says the investment will allow both companies to work more collaboratively on production (Radical currently does not have inhouse production facilities).
That certainly is money. But for those looking for more Radical comic books, don’t hold your breath
Radical hopes it can focus most of its new coin on developing more of its catalog of intellectual property, as opposed to creating projects from scratch. While the studios hang on to most of the ancillary rights to Radical’s films, they don’t get everything.
“Radical reserves a certain kind of digital publishing right that allows us to have a little more creativity in the user interface of the experience, without it being a game,” Berger told Variety , adding that the company hopes to develop different ways for fans to interact with Radical’s content. “We’re always on the hunt for new IP, and we’re always looking to develop new IP with the top creators in the business, and at the same time, we have a tremendous catalog,” he said.