Editing CrossGen (section)

===Bankruptcy===
In 2003, CrossGen found itself in a scandal over freelancer payments, exposing systemic financial problems.<ref>Dean, Michael: "Complaints from Unpaid Freelancers Shine Spotlight on CrossGen Cash-Flow Problems", ''The Comics Journal'' #255 (Sept. 2003), pp. 13-15.</ref> As the news reached comics fans, sales were affected and creative staff, such as Gina Villa, Brandon Peterson, and Ron Marz, began to abandon the company.{{citation needed|date=September 2020}}

Some industry observers noted that the company's difficulties became apparent shortly after the [[Borders (retailer)|Borders]] and [[Barnes & Noble]] bookstore chains discontinued stocking CrossGen's trade paperback collections, and returned huge numbers of unsold books for credit/refund, more than wiping out the publisher's optimistically low reserves against returns. In an interview with Marc Alessi on the ''Dollar Bin'' podcast, the root cause of CrossGen's financial collapse was said to be the result of a large decrease in the value of Perot Systems stock that was largely backing the company's financing. The financial plan was to lose money in the first six years before earning profits in the seventh year through film and television deals.<ref>{{Cite web|url=http://www.thedollarbin.net/shows/2016/3/9/episode-355|title=Episode 355: Interview with Mark Alessi|website=Dollar Bin Comics|date=9 February 2010 |access-date=2016-03-11}}</ref>

In late 2003 the company restructured, selling [[MegaCon]] to show organizer Elizabeth Widera.<ref name=icv2>{{cite web|url=http://www.icv2.com/articles/news/3910.html |title=CrossGen Sells MegaCon |publisher=ICv2 |date=2003-11-18 |access-date=2015-03-17}}</ref><ref>Dean, Michael: "CrossGen at a Crossroads", ''The Comics Journal'' #257 (Dec. 2003), pp. 5-15.</ref>

CrossGen filed for [[bankruptcy]] in June 2004 and ceased publishing, leaving titles such as ''Sojourn'', ''Negation War'', ''Brath'', and many others cancelled mid-story.<ref>{{cite web|url=http://www.comicbookresources.com/?page=article&id=3659 |title=CrossGen Files For Bankruptcy |website=Comic Book Resources |access-date=March 17, 2015}}</ref>

In July 2004, [[The Walt Disney Company|Disney]] Publishing was interested in licensing CrossGen content but, upon discovering the company's bankruptcy, began seeking to acquire its assets instead. Founder Alessi loaned the company $75,000,<ref>"Newswatch: Alessi Pumps $75,000 into CrossGen", ''The Comics Journal'' #263 (Oct./Nov. 2004), p. 37.</ref> but was unable to prevent the company's takeover. On November 15, Disney purchased CrossGen's assets for $1 million with plans to publish four prose hardcover novels based on writer J. M. DeMatteis and artist [[Mike Ploog]]'s ''[[Abadazad]]''.<ref name=disney/><ref>"Newswatch: CrossGen Assets Sold", ''The Comics Journal'' #264 (Nov./Dec. 2004), pp. 44-45.</ref>

CGCreators.net was created to attempt to track the subsequent doings of various staff associated with the company.<ref>{{cite web|url=http://www.cgcreators.net/ |title=The CrossGen Creator Watch |access-date=2015-03-17 |url-status=usurped |archive-url=https://web.archive.org/web/20060215141243/http://www.cgcreators.net/ |archive-date=February 15, 2006}}</ref> It has since ceased operations.

As of 2008, various CrossGen domain names and URLs were held by [[cybersquatters]].<ref>{{cite web|author=De Blieck, Augie|date=June 24, 2008|url=http://www.comicbookresources.com/?page=article&id=16929 |title=Pipeline Issue #576: DC EXODUS?|publisher=[[CBR.com]]|access-date=September 15, 2020|archive-date=September 27, 2008|archive-url=https://web.archive.org/web/20080927223635/http://www.comicbookresources.com/?page=article&id=16929}}</ref>