The company was founded by comic book artist Michael Turner in January 2003. The name "Aspen" comes from the main character in Turner's comic series, Fathom. Aspen Comics released the fantasy adventure Soulfire in 2004, its first ongoing series. 2005 marked the return of Fathom (originally published by Image Comics), with comic artist Koi Turnbull taking over the illustration of the title. Ekos, a collaboration between Turner and Geoff Johns was scheduled to follow shortly after Soulfire, but was still unreleased prior to Turner's death in 2008.
In 2001, Top Cow Productions announced a live-action Fathom feature film and supposedly entered into an agreement with James Cameron's Lightstorm Entertainment to co-produce the film.