Branson does Indian deal on comic books

MUMBAI, India - British entrepreneur Richard Branson is joining Indian film maker Shekhar Kapur and author Deepak Chopra to develop comic books and animation for India and other Asian markets, a company statement said.

Gotham Entertainment Group, a Kapur-Chopra venture, and Branson will set up Virgin Comics LLC in New York, and Virgin Animation Pvt. Ltd. in Bangalore.

"In the next decade, Asia will become one of the largest producers, as well as the largest consumers, of entertainment products," the Gotham Entertainment Group statement said.

Financial details of the deal were not disclosed.

Virgin Comics will look to Asia, and especially India, as a growing consumer market for entertainment products as well as a source of content, it said.

"On the back of global movie and licensing deals, the market for comics and graphic novels worldwide is exploding," Virgin Books executive chairman Adrian Sington said in the statement. "Much of the growth ... has come from the emergence of comics out of Asia."

In India, the world's most prolific film producer, the companies will target children and young people. More than half India's billion-plus population are younger than 25.

"... our mission is to reinvent Indian character entertainment," said Virgin Comics Chief Executive Officer Sharad Devarajan.

Gotham Entertainment recently launched a comic book series with Marvel Comics featuring an Indian Spider-Man.

Virgin Comics will also collaborate with film maker John Woo to create a company producing original comic books, launching its first titles in mid-2006, the statement said.

Branson's Virgin brand is also present in India through the Virgin Atlantic airline.

- REUTERS