Several years ago, my first officially published credit was almost a revival of Shadowman for Acclaim Comics. Acclaim had done video games based on Valiant Comics properties, and the company was sold to them (what exactly happened that the company got sold? Nothing I can really talk about without risking a lawsuit. It's not that my short time gave me insider knowledge, it's just speculation about the principals involved and industry gossip. You won't get anything on the He Said She Said of the Valiant meltdown from me, sorry).
Since then, Acclaim went bankrupt and a IP interest called Valiant Entertainment bought the rights. There have been periodic attempts to revive the line, including another slapfight involving Valiant and Jim Shooter when he went to Dark Horse with some of the Gold Key properties they wanted.
Now, Valiant has gotten an infusion of cash from Gavin and Peter Cuneo. Peter Cuneo is a former executive for Marvel who got a very nice deal from Disney to jump. I'm sorry, but historically (Jim Shooter, Joe Quesada, Bill Jemas, Peter Cuneo), Marvel execs don't work too good in the machinery of Valiant.
So, they may be reviving it. Again.
Forgive me if I don't dust off my resume and try to finish what I started all those years ago....