That includes the buyer being Chinese investment firm DMG Entertainment, originally set up in partnership with the Chinese government. Their acquisition of a minority share a few years ago was big news, but as they have stepped up to majority investor and now sole owner after triggering a contractual clause for full ownership, after Valiant were unable to find anyone to match their deal.
As part of this, three Valiant executives will be stepping down. We named CEO/CCO Dinesh Shamdasani as leaving before, but also Chairman Peter Cuneo, and CCO Gavin Cuneo will be going, though Dinesh and Gavin will be transitioning out through consultation. Peter is out straight away.
Stepping up to run the company from DMG’s side, I am told, will be Ben Hung, working with Dan Mintz. Hung used to be part of Marvel Studios and now plays a major role in DMG.
While the editorial team will remain at Valiant’s New York offices, it wouldn’t be the worse advice for prospective other comics publisher employers to check their LinkedIn profiles right now.