The SEC is reporting that Platinum Studios has purchase WOWIO. This also states that all contracts have been terminated. I can only hope that this doesn’t shake the foundation that WOWIO is based on. In a letter to publishers, William Lidwell, founder, states:
I am pleased to finally and officially announce that WOWIO has been acquired by Platinum Studios, Inc. The process took longer than any of us desired (you can make lawyers work hard, but not fast), but it is done and we are all excited to get back to the business of books. Per Kristin Ellison’s previous email to you, an amendment to the existing Publisher’s Agreement will be required to assign your agreement over and enable full use of the new capabilities. It is short and simple, and provides you with a number of new options for monetizing and distributing your content.
Kristin will be contacting publishers of books. Mike Miller will be contacting publishers of comics. You should receive an email from them before Wednesday of next week with the amendment. If you do not, please contact us and let us know. Our goal is to launch the site as quickly as possible — as early as 7/23, and no later than 8/4. The faster we get your amendments back, the faster we can launch.
Lastly, with mergers and acquisitions, there are invariably personnel changes. To this end, I am sad to report that Mike Miller will be moving on from WOWIO to pursue a new digital venture — he has kindly agreed to stay on long enough to help with the amendments. Mike has been with us from the beginning and has done a tremendous job developing the comic book side of the business. I am grateful for his hard work and dedication to the WOWIO mission, and on behalf of the WOWIO team I want to publicly recognize and thank him for his efforts.
Thank you for your support and patience during this process. We will be in touch soon.
Is there any speculation as to whether things will remain as they once were (read: free)?
I hope there wasn’t any conflict that made Mike Miller leave. I wonder what digital venture Mike is going to pursue? Will it be doing WOWIO clone his way, if there was conflict? I will wait eagerly an news on to where he ends up!
