Virgin Comics, the publishing company established in 2005 to create comic books that could be turned into films and television shows, is closing down its New York based operations. 

Though the company has been less successful than anticipated selling comic books, they have racked up a handful of deals with celebrities like John Woo, Jenna Jameson, Ed Burns, Jonathan Mostow, Guy Ritchie and Nicolas Cage to develop comic books that would eventually translate to other media.  They also have a deal with Stan Lee to develop a new line of superheroes, so they’ve got a ton of prospects.

Despite this news, things actually look pretty good for Virgin Comics.  While its comics failed to grab hold of readers, mostly due to the companies focus on Indian mythology, Hollywood has been very interested in Virgin’s upcoming projects.  Unsurprisingly, closing the door on one chapter opens another one, and the company is looking to restructure and move its operations to Los Angeles where it can actually take advantage of the movie adaptations it has planned.