SOURCE: Archaia Entertainment, LLC

March 23, 2011 15:36 ET

Archaia Entertainment Closes Initial Fundraising and Adds to Its Senior Management Team

Chicago-Based Graphic Novel and Comic Book Publisher to Utilize Financing for Its Continued Expansion Into Digital Platforms; Company Names Respected Comic Book Writer and Videogame Veteran Mike Kennedy as Publisher and Noted Chicago Attorney John Cummins as Executive VP/General Counsel; Allan Grafman, President of All Media Ventures and Former Archie Comics President Joins Archaia Board

CHICAGO, IL--(Marketwire - March 23, 2011) - Chicago-headquartered leading graphic novel and comic book publisher Archaia Entertainment, LLC has closed its first external fundraising round and has appointed Allan Grafman, former President of Archie Comics, to the Archaia Board. Archaia has also named distinguished videogame veteran and comic book writer Mike Kennedy as Publisher and prominent Chicago attorney John Cummins as Executive Vice President for Business and Legal affairs. The new financing will support Archaia's continuing digital publishing activities, including the expansion of its presence on the Internet and the numerous emerging mobile platforms and electronic publishing devices.

Kennedy joins Archaia with a distinguished 20-year career in the comic book and videogame industries, including high-profile writing assignments with such leading comic book publishers as Dark Horse and DC. His writing credits encompass numerous notable and high-profile titles such as Star Wars (Dark Horse); Superman (DC); Aliens Vs. Predator (20th Century Fox/Dark Horse) and Aeon Flux (Dark Horse/MTV). Kennedy has also earned industry-wide recognition for his innovative work developing original videogame IP's for such major players as Electronic Arts, Namco, Activision and 3DO.

John Cummins is experienced as an attorney and business advisor on the Chicago business scene. In addition to running his own boutique law firm (www.cumminsassociates.com), he has been a general counsel, CFO, chief operating officer, and a member of the boards of several businesses. Cummins brings to his executive position with Archaia an extensive career is advising business in financing, mergers & acquisitions, and intellectual property protection in the sports, entertainment, and technology industries. He previously was general counsel/CFO for PocketScript, Inc., a software developer for wireless physician systems, and a founder of Mobile Voice Control, Inc., a developer of mobile voice systems for PDAs. Both companies were successfully sold to publicly held companies delivering significant shareholder value.

Cummins is very active locally. He received his B.A. and J.D. from DePaul University and currently is Co-Chairman of the University's Advisory Board for the Coleman Entrepreneurship Center, Past President of the University's Alumni Association, and Past Chairman of the Dean's Advisory Council for the College of Law. Cummins is an owner and the General Counsel for the Chicago Red Stars in Women's Professional Soccer league.

Archaia's newest board member, Allan Grafman serves as President of All Media Ventures, advising media companies and private equity investors. Grafman is also Chairman of the Board of Majesco Entertainment, a video game producer and distributor, an Operating Partner and Principal at Mercury Capital Partners, and serves on the Board of Directors of several other media companies. Grafman brings an extensive background in entertainment to his role as Archaia board member, including Archie Comics, where served as President and helped guide the venerable comic book publisher into all areas of entertainment.

Grafman also has extensive local ties. He was previously Vice President/Managing Director of the Tribune Company in Chicago for 13 years and was VP and GM of Capital Cities Cable on Chicago's northern suburbs. In addition, he served as President/CEO of Modelwire; Executive Vice President/Chief Financial Officer of Hallmark Entertainment; Vice President/General Manager of Capital Cities Cable; and Executive Producer for HBO on "Lily Dale." Grafman is a published author (in "Licensing Book,""Inventors Digest" and "Directors and Boards.") and an on-air contributor to MSNBC "Your Business." He is a member of the ISS/Risk Metrics Corporate Governance Advisory Board.

Said PJ Bickett, President and CEO of Archaia Entertainment, L.L.C.: "As a result of Archaia's recent developments, led by our company's high-profile executive appointments and successful fundraising round, we are poised to effectively expand into all areas of entertainment and digital publishing, build our portfolio of intellectual properties, and further our domestic and international retail and direct marketing distribution programs. We expect 2011 to be a transformational year for the company."

"Archaia is positioned as a nimble and talented platform company for the new era in digital publishing and intellectual property development across all media streams. Archaia has the award-winning talent to be a premier content developer in this space," said Grafman.

About Archaia Entertainment

Headquartered in Chicago with development and marketing offices in Los Angeles, Archaia Entertainment, LLC is an award-winning, graphic novel publisher and intellectual property rights holder of more than 50 renowned publishing brands. In addition to building one of the industry's most expansive and eclectic slates of graphic novels and comic books, Archaia is successfully moving its publishing properties into all areas of film and television entertainment, including development partnerships with leading domestic and international broadcast and cable networks, theatrical motion picture producer-distributors and branded digital media. Archaia is the reigning graphic novel publisher of the year for 2010 from Ain't it Cool News, Graphic Policy, and Comic Related.

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