20th Century Fox already has a strong foothold in the comics world with its ever-expanding "X-Men" movie universe, but the studio is building up its arsenal of fictional characters with a deal that could lead to more adaptations of popular comic titles.
The studio's film division said Thursday it is acquiring a stake in Boom Studios, the Los Angeles-based publisher of comic books and graphic novels. The publisher already has a first-look movie and TV deal with Fox and the acquisition will extend the length of both deals while also funding more original content creation at Boom.
The acquisition, which is valued at around $10 million, will give Fox a significant minority stake in the publisher.
Fox is currently in post-production for a feature film based on Boom's "The Empty Man," from the graphic novel by Cullen Bunn and Vanesa R. Del Rey.
Other projects in development at Fox include adaptations of several Boom titles including "Irredeemable," "Malignant Man," "Imagine Agents," "Mouse Guard" and "Lumberjanes."
Fox Film Chief Executive and Chairman Stacey Snider said in a statement that "we look forward to the projects we have with them ahead, and are proud to have an opportunity to further energize their storytelling through this partnership."
The investment will help Boom generate more original content and greenlight more projects, according to Ross Richie, CEO and founder of Boom.
Unlike other major publishers of comics and graphic novels, Boom partners with creators to share ownership of original series. "Fox is committed to Boom's creators through this deal and it means Boom will have better support and resources to publish world class content," Richie said in a statement.
Boom was founded by Richie and Andrew Cosby in 2005. Last year, the publisher teamed up with World Wrestling Entertainment to create comic books and graphic novels with characters from the world of pro wrestling.