Wowio No Longer Owned by Platinum

Flashback Universe posts an interview with Brian Altounian, CEO and President of Wowio. In it, he reveals that the company is no longer owned by Platinum:

Platinum … has narrowed its focus this year to be strictly on its core film and television business. I personally formed a holding company that acquired 100% of WOWIO from Platinum on July 1 of this year.

Wowio had been acquired by Platinum about a year ago, so that didn’t last long. (And the combination was generally unsuccessful.) Practically, I’m not sure how much of a change this actually is, since Altounian is still President and Chief Operating Officer of Platinum, and he was the one defending the company when people pointed out that they still owed creators money from June 2008. That debt has still not, to my knowledge, been paid. The interview didn’t ask Altounian about financial matters.

Altounian is now plugging the “richer experience” of including audio and video as additional content in their ebook PDFs. He concludes by promising a brighter future:

[W]e are exploring additional media elements such as audiobook and other formats for our readers to broaden their collection of material. We are exploring new revenue-generating opportunities for our publishing partners. We are looking at new corporate sponsorships, and we recently launched a new non-profit initiative that will expand our readership greatly. Look for new announcements to come out over the next couple of months.

Given the number of times the company has said “trust us, good things are coming”, it appears that even though, on paper, the leadership may be different, it’s the same old Wowio.


12 Responses to “Wowio No Longer Owned by Platinum”

  1. Ray Cornwall Says:

    I’m wondering if he’s going to pull the trick of “I bought the company, not the debts” and stick the debts back on cashless Platinum. Given Platinum’s track record, nothing would surprise me…

    Also, what did he pay for Wowio? Shouldn’t that be disclosed to the stockholders?

  2. Robot 6 @ Comic Book Resources – Covering Comic Book News and Entertainment » Comics A.M. | The comics Internet in two minutes Says:

    [...] Publishing | Wowio, the struggling digital publisher purchased last year by financially troubled Platinum Studios, was sold last month to a holding company formed by Platinum President and COO Brian Altounian. No information is provided about what effect the sale will have on debts owed by Wowio. [Flashback Universe, via Comics Worth Reading] [...]

  3. Fleen: Try Our Thick, Creamy Shakes » Things That Happened Over The Weekend Says:

    [...] news broke (although I first saw it Sunday at Johanna Draper Carlson’s site) that WOWIO is no longer owned by Platinum. Instead, it’s apparently now owned by Brian Altounian, the President & CEO [...]

  4. Journalista - the news weblog of The Comics Journal » Blog Archive » Aug. 25, 2009: Pirate bait Says:

    [...] it: Johanna Draper Carlson notes that Platinum Studios has sold its troubled Wowio e-publishing unit to… Platinum [...]

  5. Ed Sizemore Says:

    I believe quoting The Who’s “We Won’t Get Fooled Again”, seems appropriate on many levels,”Meet the new boss, same as the old boss.”

  6. Not Important Says:

    Altounian is the COO (not CEO) of WOWIO.

  7. Not Important Says:

    “…of PLATINUM,” I meant to say. ergh

  8. Not Important Says:

    oh for fuck’s sake, I can’t read. I just noticed people misquoting you and saying he was Pres/CEO of Platinum, when you actually had your facts straight… I’ll shut up now.

  9. Johanna Says:

    No, it’s confusing, because his titles are so similar and yet different depending on which company you’re talking about.

  10. Digital Strips: The Webcomics Podcast : Links: Ignatz, Wowio, and site design Says:

    [...] Draper Carlson picks up on an interesting tidbit: Platinum no longer owns Wowio, although it doesn’t seem to have moved too far away; Platinum’s president and CEO, [...]

  11. Anonymous Says:

    Excellent. Now Wowio can go bankrupt without jeopardizing Platinum. :-D

  12. Newscast for August 7th, 2011 | The Webcast Beacon Network Says:

    [...] The Duck (aka Drunk Duck) is No Longer Owned by Platinum But by Wowio Which was Spun Off of Platinum in 2009. Since Wowio is not a publicly traded company we do not know how much debt it is carrying.  How much was left with Platinum and how much it took on. Original Source: Comics Worth Reading [...]

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