Virgin Books is a record company started by Richard Branson. Yes, that Virgin. They're mostly known for publishing sleazy bondage pornography and Branson's various autobiographies. Well, that and some other trash.
Through a nonsensical series of mergers, spinoffs, renaming, and acquisitions, by 1991 they possessed the Doctor Who book license and began releasing the Virgin New Adventures. In 1994, they added the Virgin Missing Adventures, began with a book by Paul Cornell, who later said the line was for writers and readers not interested in creativity, imagination, or quality.
Bold words from the writer of Shadows of Avalon.
By 1996, the fandom was all in an autizzy due to the TV movie. Even the Virgins were feeling the pressure, leading to the publication of the final New Adventure, The Dying Days, which basically called the movie a ripoff of 12 Monkeys and ended with Bernice Summerfield riding the Doctor's sonic screwdriver now that he'd regenerated into someone who didn't look like a deep fried troll doll. She then took over the VNAs with her own ostentatiously obscure storyline while the Doctor was recaptured by the villainous and orwellian authority he'd been running from all his life: The BBC...
Here's some names, try to imagine how they might look on an opening credit sequence:
Or how about these other, somewhat less illustrious but no less recognizable names:
As for the future of the line, which is the present from our perspective, I wasn't kidding earlier. BDSM pornography and autobiographies of Richard Branson, that's it. But hey, at least they got rid of the Doctor Who nerds cluttering up their offices.