Red 5 is reportedly rebooting Mandrake with a focus on a female legacy version, named 'Mandy'.

Red 5 doesn't seem to be as big as Dynamite, or at least I didn't think they were.

Is this another situation like the Hermes Press Phantom where the character was licensed separately from the rest?
Would the use of Mandy instead of Mandrake, still free up the original to be licensed elsewhere?

Of course, as it's most likely a mini-series and people aren't really rushing to grab the King character licenses, Mandy will probably be printed and over before any new King comics see the light of day.

I was kinda hoping Titan or Dark Horse would take a swing at the King characters.