Okay I didn't see that one coming...  Journalista! links to a Platinum Studios news release that they are in negotiations to buy WOWIO.  Wowio is a website in a state of suspended animation right now -- and was the subject of lots of speculation last week.

My understanding is that WOWIO is a private company so no one has much idea of their financial state.  That would change if Platinum purchased them -- as a public company Platinum reveals a lot more about its financials because of SEC reporting requirements.