Posted in: Boom, Comics, Comics Publishers, Current News | Tagged: Penguin Random House, prh

Confirmed: Penguin Random House Buys Boom Studios

Penguin Random House buying Boom Studios earlier today on Bleeding Cool. Now it has gone fully official with the following press release.

Published Wed, 10 Jul 2024 13:43:08 -0500

by Rich Johnston

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Article Summary

Penguin Random House acquires Boom Studios to expand its comics and graphic novels imprint.
Former Boom Studios investors, including Disney, have been bought out and board executives have exited.
Boom Studios will maintain editorial independence and continue to be distributed by Diamond Comic Distributors.
The acquisition by Random House Worlds aims to support direct market comics and creator success.

I scooped the news about Penguin Random House buying Boom Studios earlier today on Bleeding Cool. Now it has gone fully official with the following press release. It stated that titles would continue to be distributed by Diamond Comic Distributors… but it doesn't specify whether that will be a third-party distribution like PRH exclusive publishers Marvel, IDW, Dark Horse and Tokyopop. Boom Studios still has its contract with Diamond to play out. There is also no mention of the redundancies, but I have been told to expect around a fifth of positions to be removed as part of the acquisition.

I can confirm that all former investors, including the Investor Group and Disney, are no longer a part of Boom, they have been bought out, and that includes board executives Paul Levitz and Ross Richie, they are gone from the company.

Random House Publishing Group To Acquire Boom! Studios, Will Become Part Of The Random House Worlds Portfolio Of Imprints

The Random House Publishing Group, a division of Penguin Random House, has entered into an agreement to acquire BOOM! Studios, the world-class comic book, graphic novel and licensed storytelling publisher and studio. The acquisition was announced today by Scott Shannon, President of Random House Worlds, and Ross Richie, Chairman and Founder of BOOM! Studios. Terms of the deal were not disclosed. The transaction is expected to close in summer 2024.

The BOOM! Studios publishing program will join the Random House Worlds portfolio of imprints alongside Del Rey, Inklore and the RH Worlds licensing program. BOOM! Studios will retain their editorial and publishing independence reporting to Shannon. Keith Clayton, VP Publisher, Random House Worlds, and Bill Takes, EVP of Business Strategy, Random House Publishing Group, will work alongside Shannon and the BOOM! Studios team to help manage and integrate the new imprint.

BOOM! Studios titles will continue to be distributed by Diamond Comic Distributors to the direct market and Simon & Schuster to the bookstore trade. No changes are planned to relocate the BOOM! Studios Los Angeles-based office.

Founded in 2005 by Richie, BOOM! Studios publishes under four distinct lines—BOOM! Studios, BOOM! Box, KaBOOM!, and Archaia—and has produced bestselling, award-winning original work, including Keanu Reeves' BRZRKR, Something is Killing the Children, and Lumberjanes, while also breaking new ground with established licenses such as Power Rangers, Dune, The Expanse, Garfield, Firefly, Labyrinth, and Dark Crystal. BOOM! Studios has produced numerous feature films and television series including 2 Guns (2013), The Empty Man (2020), Just Beyond (2021), and Mech Cadets (2023). It is currently in production on Butterfly, a live action series for Amazon Prime Video starring Daniel Dae Kim and Reina Hardesty.

Random House Worlds is a portfolio of imprints within the Random House Publishing Group, a division of Penguin Random House, the world's largest trade publisher. It consists of Del Rey, founded in 1977 and is the world's foremost publisher of science fiction and fantasy, publishing the renowned authors such as Terry Brooks, Naomi Novik, Douglas Adams, Siliva Moreno-Garcia, Robin Hobb, Max Brooks, Pierce Brown, Katherine Arden and Danielle L. Jenson, among others; Inklore, which publishes the best in manga, manhwa, manhua, webcomics and graphic novels, both licensed and original, for adult audiences; and the Random House Worlds imprint dedicated entirely to licensed book publishing, acting as a home for the largest pop culture brands across genres and media types.

"It's every entrepreneur's dream to launch a company, build it, and sell it to the best," said Richie. "I'm excited to hand the reins of BOOM! over to the best and largest publisher in the world. Their focus on readers and retail partnerships will build upon our work and help our creators achieve even more success. Personally, it's time for me to take some much-needed time off with my family and explore what's next."

"Over the past several years Random House Worlds has partnered with BOOM! Studios on various projects and had the benefit of seeing first-hand their best-in-class comic publishing. Ross and his team have built a dynamic, imaginative home for a diverse and talented roster of creators. We are thrilled to welcome BOOM! Studios to our house, and now work side-by-side with this imaginative team," said Shannon. "The acquisition of BOOM! Studios is a major step in Penguin Random House's expansion of support to the direct comics market and a key part of our commitment to being the best publisher for creators across all categories. We are excited to continue that tradition with BOOM! as part of the Random House Publishing Group."

Is that every entrepreneur's dream? Expect the fallout to follow, especially regarding redundancies.

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