Platinum Studios

This article is about the media company. For the video game developer, see PlatinumGames.

Not to be confused with Platinum Dunes.

Platinum Studios, Inc. is an American media company that has developed, published, and licensed comic book properties for adaptation into film, television, and other media.

Platinum Studios, Inc.

Company type	Public
Traded as	Expert Market: PDOS
Industry	Comics, Movies, Television
Founded	January 1997
Founder	Scott Mitchell Rosenberg Ervin Rustemagić
Headquarters	Los Angeles, California , U.S.
Key people	Scott Mitchell Rosenberg (CEO)
Services	Licensing, Publishing
Divisions	Platinum Studios Comics
Website	platinumstudios.com

Founded in 1997 by Scott Mitchell Rosenberg and Ervin Rustemagić, the company amassed a large library of comic book characters, which it has licensed for adaptation into film, television, and digital media. Platinum Studios produced television series such as Jeremiah (2002–2004) and films including Cowboys & Aliens (2011) and Dylan Dog: Dead of Night (2011). It has also operated print and digital publishing platforms, including DrunkDuck and WOWIO.

The company’s reputation later became controversial due to disputes with creators and business difficulties. In the early 2010s, shareholders and former executives raised allegations of financial mismanagement and self-dealing by Rosenberg, including the transfer of intellectual property to shell companies and failure to maintain required financial filings. These disputes coincided with the company being delisted from public trading and the eventual sale of its digital assets.

Business model and operations

Platinum Studios develops and licenses its intellectual property for film and television adaptations. The company’s philosophy is to allow creators or original publishers to continue comics publications while Platinum manages all other rights and media development.^{[citation needed]}

The company focuses on two categories of properties:

• Macroverse Bible properties – a multi-thousand-page compendium of interrelated comic characters, many created by Scott Mitchell Rosenberg, including titles such as Cowboys & Aliens.
• Acquired properties – licensed from other companies or creators (such as Dylan Dog and Jeremiah), where Platinum holds all media rights while the original publishers retain comics publishing rights.

Platinum Studios Comics operated from 2006 to 2011 (with most of its publishing activities taking place in 2007–2008). Many of the company's titles were developed for film, television, and other media, such as mobile games. Online releases often appeared before in-store print releases. Notable creators published by Platinum Studios Comics included Art Baltazar, Scott O. Brown, Jay Busbee, Dennis Calero, D. J. Coffman, Chuck Dixon, Josh Elder, Andrew Foley, Megan Rose Gedris, Robert Greenberger, Scott Koblish, Andy Mangels, Dean Motter, Dave Roman, and Fred Van Lente.

Platinum Studios’ digital publishing activities (DrunkDuck.com and WOWIO, 2006–2010) historically included webcomics publishing, mobile content, and comic news and resources.

History

Founding

Platinum Studios was co-founded in January 1997 by former Malibu Comics head Scott Mitchell Rosenberg and European rights agent Ervin Rustemagić.^[1]

Cowboys & Aliens

In May 1997, shortly after forming Platinum, Rosenberg licensed Cowboys & Aliens to DreamWorks/Universal Studios^[2] based on storylines, artwork, and an iconic one-sheet depicting a cowboy on horseback shooting at a spaceship.^[2] The one-sheet later became the graphic novel cover, which was first published in December 2006 by the newly minted Platinum Studios Comics.^[a] In 2011, the Cowboys & Aliens graphic novel appeared on the The New York Times Best Seller list for both hardcover^[4] and softcover.^[5] The Cowboys & Aliens film was released theatrically in 2011.^[6]

Jeremiah

Thanks to Rustemagić, Platinum acquired the film and television rights for Hermann Huppen's science fiction comic series Jeremiah, which in 2002 became the first European graphic novel series adapted into a live-action U.S. television series on Showtime.^[7]

Expansion and financial losses

From 2005 to 2008, Platinum expanded its operations. In 2005, the company hired former Time Warner executive Brian Altounian as chief operating officer.^[8]

In June 2008, Platinum Studios, in a partnership with John H. Williams' Vanguard Animation, created a new comics imprint, Vanguard Comics (with Williams' company holding a 30% share in the venture). The imprint came about as a result of Williams serving on the jury for the Comic Book Challenge.^[9]

Platinum posted net losses of $4.3 million in 2006 and $5.1 million in 2007^[10].

Comic Book Challenge

From 2006 to 2008, Platinum Studios produced the Comic Book Challenge, an annual televised competition for aspiring comic book creators.^[11] Over one million applicants submitted entries judged on the quality of their art and writing, with the final winner determined by public voting.^[12] Winners received prizes and publishing opportunities with Platinum Studios. The first Challenge was broadcast on KNSD in conjunction with San Diego Comic-Con; later competitions were hosted by AT&T.^[13] Notable winners included D. J. Coffman's Hero by Night (2006) and Jorge Vega's Gunplay (2007). The 2008 competition was won by Carlos Weiser's The Armageddon Chronicles, but the company's finances prevented its publication, and the Comic Book Challenge was discontinued thereafter.^[14]

Drunk Duck and WOWIO

In September 2006, Platinum Studios purchased the webcomics community site DrunkDuck.com, created by Dylan Squires,^[15] which at the time consisted mostly of amateur webcomics artists.^[15] The acquisition prompted immediate discussion among webcomics creators and readers, with some commentators expressing enthusiasm for broader exposure and others voicing skepticism about the commercial terms of the arrangement.^[16] Platinum’s public filings describe "producer" agreements and other commercial arrangements for media exploitation, and several creators associated with DrunkDuck later raised disputes over contract terms and payments.^[17] By mid-2010, the Drunk Duck community had grown to 95,000 subscribed users.^[18]

In June 2008, Platinum began talks to acquire WOWIO, a Los Angeles–based digital media platform that allowed users to share and consume e-comics and E-books, while offering monetization opportunities for creators and publishers. Issues related to WOWIO's non-payment of quarterly earnings delayed the sale.^[19] In June 2009, WOWIO was purchased outright by Brian Altounian, former Platinum COO and board member, leaving Platinum with no ownership stake.^[20] Third-quarter earnings were eventually paid under a revised formula more favorable to WOWIO.^[21] In June 2010, WOWIO — at that point known as an "electronic bookstore" — acquired DrunkDuck.com from Platinum Studios.^[18] As of 2018, WOWIO itself is effectively defunct and operates as a real estate holding company.

Later developments

In 2012, Platinum Studios was delisted from public trading due to failure to file required reports and was later classified as OTC Pink No Information, indicating minimal disclosure to investors.^[17]

By 2014, 27 million shares of Platinum were acquired by KCG Holdings.^[22]

Controversies

In 2009, Platinum Studios co-founder Ervin Rustemagić — at that point no longer affiliated with the company — filed a lawsuit in the Superior Court of California (Case No. BC416936) against Platinum Studios and Rosenberg, alleging breach of an agreement under which Rustemagić was to receive 50 percent of producer fees from the exploitation of certain comics-based properties.^[23] The dispute was resolved through arbitration in April 2011, resulting in minimal liability to Platinum; under the settlement, the company guaranteed additional payments (approximately US $77,000) that Rosenberg was required to make to Rustemagić.^[23]

By the early 2010s, Platinum Studios faced significant financial, legal, and management challenges. Shareholders and former company executives raised concerns about Scott Mitchell Rosenberg’s management, including alleged diversion of company funds, misappropriation of intellectual property to shell companies, and promotion of projects that were never realized, such as Cowboys & Aliens 2 and an animated adaptation of Cowboys & Aliens.^[17]

The company and Rosenberg faced multiple lawsuits, including claims of:

• Wrongful termination, fraudulent inducement, and defamation from former employees.
• Contract disputes and unpaid invoices from vendors, such as Transcontinental Printing and DoubleClick
• Disputes related to film productions, including Dylan Dog: Dead of Night and agreements with Arclight Films.
• Alleged breaches of consulting agreements, such as with former WOWIO consultant Paul Franz.^[17]

Allegations also included the transfer of 51% of Platinum’s intellectual property to Rip Media, a company controlled by Rosenberg, reducing shareholder ownership. Some projects announced publicly were later revealed to be "motion comics" or otherwise unpublishable due to unpaid creators.^[17]

These controversies contributed to a decline in investor confidence, with stock trading at low levels and public filings indicating ongoing legal exposure and uncertainty regarding company assets and operations.^[17] Chris Beall, who had joined Platinum as president in 2012, attempted to remove Rosenberg and investigate these matters. Reports indicated that Beall was subsequently removed from his position.^[17]

Film and television production

Completed films and television projects

• Jeremiah (2002–2004) (Showtime)
• Cowboys & Aliens (2011), directed by Jon Favreau^[24]
• Dylan Dog: Dead of Night (2011), directed by Kevin Munroe

In development

Note: There have been no updates on these projects since at least 2012.^{[citation needed]}

Films

• Atlantis Rising – with producer Mark Canton^[25]
• Red Mantis (Mal Chance) – with producer Tony Krantz^[26]
• Unique – with producer David Heyman/Walt Disney Pictures^[26]
• The Weapon – with TV actor David Henrie attached^[27]

Television

• Gunplay – with Fox 21^[28]
• Indestructible Man – an unreleased title, with Fox 21^[29]

Unproduced

• Nightfall — with director James Wan^[30]

Platinum Studios Comics titles published

Original graphic novels

• Alien at Large (2008), created by Bob Keenan and Rich Larson
• The Big Amoeba (2008), created, written and illustrated by Art Baltazar
• Cowboys & Aliens (2006), created by Scott Mitchell Rosenberg, written by Fred Van Lente and Andrew Foley, illustrated by Dennis Calero and Luciano Lima
• Gunplay (2008), created and written by Jorge Vega, illustrated by Dominic Vivona^[31]
• Hot Shot & Mighty Girl (2008), created by Scott Mitchell Rosenberg, written by Fred van Lente, illustrated by Billy Penn
• Love Bytes (2007), created by Scott Mitchell Rosenberg, written by Josh Elder, illustrated by Gigi
• Nightfall (2007), created and written by Scott O. Brown; illustrated by Ferran Xalabarder — originated on DrunkDuck.com; film rights acquired in 2007 by director James Wan; no film ever produced
• Red Mantis (2007), created, written and illustrated by Martin Pardo and David Morancho — translated from a Spanish comic called Mal Chance: Lola;^[32] film rights sold in 2009^[26]
• Super Larry (2008), created by Scott Mitchell Rosenberg, written by Andy Mangels, illustrated by Dan Thompson
• Watchdogs (Feb. 2007) ISBN 978-1-934220-05-4, created by Scott Mitchell Rosenberg, written by Fred Van Lente and illustrated by Brian Churilla

Limited series/ongoing series

• The Adventures of Tymm: Alien Circus (3 volumes, 2008–2011), created by Dave Roman and L. Frank Weber
• Atlantis Rising (5 issues, Oct. 2007-Apr. 2008), created by Scott O. Brown and Tim Irwin — film rights sold in 2012^[25]
• Big Badz (4 issues, 2008), created by Rob Moran, written by Chuck Dixon, illustrated by Enrique Villagrán^[33]
• Blood Nation (4 issues, Feb.–May 2007), created and written by Rob Moran, illustrated by James Devlin
• Consumed (4 issues, July–Oct. 2007)
• Ghosting (5 issues, Aug.-Dec. 2007) [co-published with Top Cow Productions], created by Scott Mitchell Rosenberg, written by Fred Van Lente, illustrated by Charles Carvalho and Carlos Ferreira
• Hero by Night, created, written and illustrated by D. J. Coffman, colored by Jason Embury
  • Limited series (4 issues, Mar.-June 2007)
  • Ongoing series (3 issues, Dec. 2007–2008)
  • Hero By Night Free Comic Book Day Edition (1 issue, 2008)
• I Was Kidnapped By Lesbian Pirates From Outer Space (6 issues, May 2008 – 2009), created, written and illustrated by Megan Rose Gedris
• Incursion (4 issues, Nov. 2007-Feb. 2008), created by Scott Mitchell Rosenberg, written by Jay Busbee, illustrated by Axel Medellin Machain
• Kiss 4K (6 issues, May 2007-Apr. 2008), written by Ricky Sprague, illustrated by Kevin Crossley and Thomas Ruppert
• Unique (3 issues, Mar.-May 2007), created by Scott Mitchell Rosenberg, written by Dean Motter, illustrated by Dennis Calero — film rights licensed in 2009^[26]
• The Weapon (4 issues, June–September 2007), created by Scott Mitchell Rosenberg, written by Fred Van Lente, illustrated by Scott Koblish — film rights sold in 2009^[27]

Notes

1. In order to make the Cowboys & Aliens comic appear to be a big seller, Platinum Studios priced the 105-page book at the low cost of $4.99 (when most graphic novels were $10 and up). Platinum attempted to game the system in various other ways, including using a business arrangement with the popular publisher Top Cow Productions to list Cowboys & Aliens in Top Cow's section of the Diamond Comic Distributors catalogue. The company also gave certain retailers huge bulk discounts on the book, all of which counted toward sales numbers. Based on these inflated numbers, Entertainment Weekly listed Cowboys & Aliens as a top seller for the month, which prompted Universal/DreamWorks to move the film project forward again.^[3]