The cartoon was canceled the same year as the release of The Phantom (1996) starring Billy Zane as The Phantom/Kit Walker.
Margot Kidder is famous for playing Lois Lane in Superman (1978) and Mark Hamill provided the voice of The Joker in Batman: The Animated Series (1992). Batman and Superman are both DC comic book heroes.
Segan's dog is named D.V.L., a reference to The Phantom's pet wolf from the comics, Devil. He makes an appearance in the second-season opening montage of previous Phantoms, along with the horse the car Hero is named after.
Maxwell Madison, Jr.'s pet cat Baudelaire is named after the French poet Charles Baudelaire.
At one point, 30 more episodes were planned for a total 65-episode season, which was the standard for syndicated cartoons, but it was scrapped due to low ratings.