New
Apr 4, 2011 4:33 PM
#1
According to their official blog, FUNimation Entertainment is now owned by an investment group led by FUNimation's founder, president, and CEO: Gen Fukunaga. FUNimation was sold for $24 million in an all cash transaction and was previously a subsidiary of Navarre Corporation. The Company has agreed to retain Navarre as FUNimation's exclusive distributor in the United States on a continuing basis and will also act as their logistics and fulfillment services provider. FUNimation's blog states, "Operations will go on as normal and we will keep bringing you the best in anime and asian film!" Navarre Corporation's Official Press Release: Navarre Corporation Announces Sale of FUNimation Entertainment Company Advances on Strategic Initiatives and Affirms Debt-Free Status at March 31, 2011 MINNEAPOLIS, Apr 4, 2011 (GlobeNewswire via COMTEX) — Navarre Corporation (Nasdaq:NAVR) today announced that it has sold FUNimation Entertainment for $24 million in an all cash transaction. Purchasers in the transaction are a group of entities that were newly formed by an investment group that includes Gen Fukunaga, FUNimation Entertainment’s chief executive officer, as a minority stakeholder. In connection with the sale, the Company has entered into an agreement to act as FUNimation Entertainment’s exclusive distributor in the United States on a continuing basis, and will also act as FUNimation Entertainment’s logistics and fulfillment services provider. The transaction is a major step forward in the Company’s ongoing strategy to focus on the expansion of revenue in the distribution of new product lines, further develop the breadth of its value added services, and continue to grow its direct to consumer fulfillment services. This strategy has already resulted in a significant reduction to debt and has improved operating margins by leveraging the Company’s significant distribution and logistics expertise and considerable systems and physical assets. “We ended fiscal 2011 debt free, prior to our receipt of the proceeds from this transaction,” said Cary L. Deacon, chief executive officer of Navarre Corporation. “With the strength of our balance sheet, Navarre will be able to deploy the funds generated from the sale of FUNimation to build or acquire new businesses and services to diversify our revenue streams that will support our long-term objectives. We will be actively seeking expansion opportunities in the distribution and online/web services area to support our direct to consumer strategies. “We are energized by the progress we have made, and feel we are now positioned to build our businesses and services offering to support our long-term objectives and increase shareholder value,” continued Deacon. Earlier this year, the Company had detailed the strategies that support its long-term objectives. Going forward, Navarre’s strategic initiatives include: — Leveraging its state-of-the-art systems and logistics capabilities; — Continuing to expand its products and services beyond digitally downloadable goods; — Providing back-end logistics solutions and fulfillment capabilities to customers and clients; — Expanding its direct-to-consumer fulfillment business; — Enhancing the business development team to support acquiring new services and product lines; and — Continuing to grow the Canadian business through expanding relationships with key Canadian retailers. “This transaction ends a comprehensive sales process undertaken over the last year. As previously discussed, FUNimation’s future strategies and associated risks to execute them are not in line with Navarre’s strategic direction,” said Reid Porter, chief operating officer of Navarre Corporation. “Most importantly, this sale allows us to now provide even greater focus on executing against our long-term strategic objectives.” The Company anticipates that its financial results for the fourth quarter of fiscal year 2011 will be impacted by a non-cash impairment charge resulting from a reduction in the carrying value of FUNimation’s net assets, as well as a pre-tax loss upon the sale of FUNimation. The exact amount of the impairment charge and the loss resulting from the sale of FUNimation will be determined in connection with preparing the Company’s financial statements for the 2011 fiscal year end but is currently estimated to be approximately $11 million. As part of the sale, Navarre will remain the exclusive distributor of FUNimation products in the United States. As exclusive distributor, Navarre will leverage its more than 25-year history as a leading distributor for computer software, home entertainment media, consumer electronics and accessories. More information on the sale of FUNimation, as well as updates on the Company’s new strategic priorities, will be available in Navarre’s fiscal 2011 fourth-quarter and full-year earnings release on June 7, 2011, and subsequent conference call on June 8, 2011. Details regarding that earnings release will be provided shortly. In addition, the Company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission describes the FUNimation sale. Sources: FUNimation's official blog, Mania.com |
NaruleachApr 4, 2011 4:37 PM
p r o f i l e 👀 |
Apr 4, 2011 4:35 PM
#2
Apr 4, 2011 4:36 PM
#3
Yay for them, now give us the live action Beck movie. |
Apr 4, 2011 4:39 PM
#4
Well, I'm just glad they aren't going under (*ahem* 4Kids *ahem*) |
<img src="http://i191.photobucket.com/albums/z297/Tsurakeru/The%20world%20ends%20with%20you/gif_Sho.gif" border="0" /> sarahandherkind.tumblr.com |
Apr 4, 2011 4:40 PM
#5
Funimation is bought by the people of Funimation, ok lol |
Apr 4, 2011 4:41 PM
#6
Back to where they begun huh. Well, I hope FUNimation's in good hands. |
Apr 4, 2011 4:44 PM
#7
jix said: Funimation is bought by the people of Funimation, ok lol noticed the same thing... "now owned by an investment group led by FUNimation's founder, president, and CEO: Gen Fukunaga"... so what is changing? It looks like the top management is going to stay the same other then the simple fact that the financial provider has changed.. |
Apr 4, 2011 4:44 PM
#8
Not surprising, I just hope they do well. |
Apr 4, 2011 4:51 PM
#12
Apr 4, 2011 4:54 PM
#13
$24 million in an all cash transaction an all cash transaction all cash ...Wh--What? |
Apr 4, 2011 4:57 PM
#14
Apr 4, 2011 5:00 PM
#15
Apr 4, 2011 5:00 PM
#16
well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame |
Apr 4, 2011 5:02 PM
#17
DrRoboto said: $24 million in an all cash transaction an all cash transaction all cash ...Wh--What? who walks around with millions in cash?.....haha who walks around with 1k in cash? hell 100? |
Apr 4, 2011 5:06 PM
#18
diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. |
Apr 4, 2011 5:11 PM
#19
Redfoxoffire said: diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. one out of ten shows is bearable. if it was as good as you said then anime sales wouldn't have dropped so steeply |
Apr 4, 2011 5:13 PM
#20
So it's all staying in the corporate family...weird, but okay. |
Apr 4, 2011 5:33 PM
#22
As long as 4kids keep getting bad news and Funi better news, I'm happy. :) |
Apr 4, 2011 5:35 PM
#23
kisami said: DrRoboto said: $24 million in an all cash transaction an all cash transaction all cash ...Wh--What? who walks around with millions in cash?.....haha who walks around with 1k in cash? hell 100? It means there wasn't any stock involved. Sometimes a company will be bought using the stock of the buying company, i.e. the shareholders get some percentage of the stock as payment for the stock of the other company. |
Apr 4, 2011 5:38 PM
#24
This almost doesn't sound like news at all. |
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Apr 4, 2011 5:44 PM
#25
diezle said: Redfoxoffire said: diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. one out of ten shows is bearable. if it was as good as you said then anime sales wouldn't have dropped so steeply i've never seen an anime that did weak in sales because of the quality of the voice acting. the only ways (that i know of) an anime would do poorly in sales is if lack of promotion or not a lot of popularity. oh and btw, "true" anime lover is a BS term. |
"everyone knows that the last toes are always the coldest to go." Telavators-the mars volta |
Apr 4, 2011 5:44 PM
#26
For people who don't get it, the CEO is merely the highest ranking officer of a corporation. The CEO is not necessarily the owner of the company nor it's President (unless he's explicitly holding both the role of CEO and President). The CEO is merely the leader of the Board of Directors. In FUNimation's case, they were owned by Navarro but most people already knew they were planning on selling them off to someone. All that happened was that the FUNimation executives decided to buy the company, so now they are independent once more. Whether this is a good or bad thing remains to be seen since now FUNi lacks the funds from another company to piggyback should a gamble goes wrong. This might mean that they'll have to be even more carefull at choosing their anime licenses since they likely can't afford to have many series flop. Of course, the upside of this is that they are their own bosses so they aren't held down by the whims of some other uncaring corporation *coughlikeacertainanimesitecough*. |
Apr 4, 2011 5:44 PM
#27
diezle said: Redfoxoffire said: diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. one out of ten shows is bearable. if it was as good as you said then anime sales wouldn't have dropped so steeply If you think the quality of the dubs is the issue, you are naive. |
Apr 4, 2011 5:54 PM
#28
love funimation :D glad they are gonna be still around |
How to Watch Naruto Without Filler (Complete): http://bit.ly/LncQif How to Watch Bleach Without Filler (Complete): http://bit.ly/y0UQTO |
Apr 4, 2011 6:01 PM
#29
I'm not sure anything's going to change, but I;ll treat this as good news. |
"The R1 Anime business is a cruel and shallow financial trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side." |
Apr 4, 2011 6:03 PM
#30
I'm still waiting for this Headline: FUNIMATION BANKRUPT!!!!, Leaves the Anime industry! |
Apr 4, 2011 6:06 PM
#31
Apr 4, 2011 6:08 PM
#32
alexcampos said: I'm still waiting for this Headline: FUNIMATION BANKRUPT!!!!, Leaves the Anime industry! the possibilities of that happening are mixed, but seeing how they're doing right now, it won't be happening for the time being. |
"everyone knows that the last toes are always the coldest to go." Telavators-the mars volta |
Apr 4, 2011 6:10 PM
#33
alexcampos said: I'm still waiting for this Headline: FUNIMATION BANKRUPT!!!!, Leaves the Anime industry! Why would anyone be waiting for this? I am confused? Hopefully this is indeed better independence by Funimation and not the appearance of it(Still a lot of wealthy investors in Funimation right now). |
Apr 4, 2011 6:18 PM
#34
GaZsTiC said: There is nothing particularly wrong with Funi dubs. They DO however need to hire voice talent from outside Texas. All their voice actors sound similar and there isn't enough diversity. That's something I can agree with. They re-use the same actors rather often. alexcampos said: I'm still waiting for this Headline: FUNIMATION BANKRUPT!!!!, Leaves the Anime industry! And the subtitle: Sorry, non-Japanese anime fans, as a result of the largest distributor going bankrupt you will likely never see anime released in your region again. And that's just the beginning. |
Apr 4, 2011 6:19 PM
#35
burntlettuce said: alexcampos said: I'm still waiting for this Headline: FUNIMATION BANKRUPT!!!!, Leaves the Anime industry! Why would anyone be waiting for this? I am confused? #1 They're horrible at what they do (I'm not saying I'm a DUB hater, but Funimation does one good dub for every 20 or 30 anime) #2 They get butthurt over stupid shit and start prosecuting everyone for any type of "Infrigemnet" they believe is worth prosecuting. #3 These assholes actually go into YT and take down anything and everything they want, even when it's Trailers or PVs.....how fucking stupid is that??? I understand taking down full episodes, but PVs??? That's FREE advertisement... Redfoxoffire said: And the subtitle: Sorry, non-Japanese anime fans, as a result of the largest distributor going bankrupt you will likely never see anime released in your region again. And that's just the beginning. seeing as I've NEVER bought a single anime DVD....I could care less... |
Apr 4, 2011 6:28 PM
#36
alexcampos said: #1 They're horrible at what they do (I'm not saying I'm a DUB hater, but Funimation does one good dub for every 20 or 30 anime) #2 They get butthurt over stupid shit and start prosecuting everyone for any type of "Infrigemnet" they believe is worth prosecuting. #3 These assholes actually go into YT and take down anything and everything they want, even when it's Trailers or PVs.....how fucking stupid is that??? I understand taking down full episodes, but PVs??? That's FREE advertisement... you're not familiar with copyrights are you? |
"everyone knows that the last toes are always the coldest to go." Telavators-the mars volta |
Apr 4, 2011 6:30 PM
#37
Maybe they will hire new voice actors now? The same 5 actors for every dub gets very annoying FUNI -.-. |
Apr 4, 2011 6:30 PM
#38
alexcampos said: #1 They're horrible at what they do (I'm not saying I'm a DUB hater, but Funimation does one good dub for every 20 or 30 anime) Subject statement is subjective. #2 They get butthurt over stupid shit and start prosecuting everyone for any type of "Infrigemnet" they believe is worth prosecuting. So do Japanese companies. You probably haven't been keeping up, but it's a pretty serious thing over there. #3 These assholes actually go into YT and take down anything and everything they want, even when it's Trailers or PVs.....how fucking stupid is that??? They don't do it themselves. Videos are pulled in a sweeping process, not individually. It's indiscriminate. seeing as I've NEVER bought a single anime DVD....I could care less... So you don't actually know about the quality of the products your hating on first hand? That's pretty sad. |
Apr 4, 2011 6:31 PM
#39
alexcampos said: seeing as I've NEVER bought a single anime DVD....I could care less... Well then, you're one of the faggots killing the anime industry. I may not buy much (shit's EXPENSIVE), but I make an effort to support what I love. When I see assholes like you proudly exclaiming their arrogant, slovenly practices, I'm surprised there are any companies willing to stick their necks out in this stagnant industry. I appreciate FUNimation because they bring the US BDs and DVDs of some of my favorite anime. They release with the Japanese audio and English subtitles, so I could care less about the quality of their dubs. |
Apr 4, 2011 6:33 PM
#40
Lordcrab86 said: Not like I agree with how stupidly enforced copyrights are (what's the problem with leaving trailers and OP/ED animation's up?) but yeah, it's their right to enforce it.alexcampos said: #1 They're horrible at what they do (I'm not saying I'm a DUB hater, but Funimation does one good dub for every 20 or 30 anime) #2 They get butthurt over stupid shit and start prosecuting everyone for any type of "Infrigemnet" they believe is worth prosecuting. #3 These assholes actually go into YT and take down anything and everything they want, even when it's Trailers or PVs.....how fucking stupid is that??? I understand taking down full episodes, but PVs??? That's FREE advertisement... you're not familiar with copyrights are you? |
Apr 4, 2011 6:34 PM
#41
Leon-Gun said: Not like I agree with how stupidly enforced copyrights are (what's the problem with leaving trailers and OP/ED animation's up?) but yeah, it's their right to enforce it. Onibokusu said: They don't do it themselves. Videos are pulled in a sweeping process, not individually. It's indiscriminate. Do you think some guy at FUNimation sits there and flags content all day? |
Apr 4, 2011 6:37 PM
#42
I just hope that this doesn't affect the anime releases and dubbing despite what they say... |
Apr 4, 2011 6:38 PM
#43
Redfoxoffire said: diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. I agree, Im not a big fan of dubs, but some of FUNi's dubs are pretty good hopefully thing only thing that will change is more anime's provided, and faster realeses |
Apr 4, 2011 6:39 PM
#44
FatherAnderson said: Maybe they will hire new voice actors now? The same 5 actors for every dub gets very annoying FUNI -.-. I will agree, but one of the reasons funi's been using the same voice actors because it's a lot easier for them to work with, they know how these actors would perform, new blood usually takes a lot longer to work with, especially when they don't get enough time to even rehearse for their roles. |
"The R1 Anime business is a cruel and shallow financial trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side." |
Apr 4, 2011 6:40 PM
#45
Onibokusu said: So you don't actually know about the quality of the products your hating on first hand? That's pretty sad. Sure I do....It's called TORRENTS and streaming sites...they also put DUBS you know... DrRoboto said: Well then, you're one of the faggots killing the anime industry. I may not buy much (shit's EXPENSIVE), but I make an effort to support what I love. When I see assholes like you proudly exclaiming their arrogant, slovenly practices, I'm surprised there are any companies willing to stick their necks out in this stagnant industry. OH NOES....Anime will cease to exist because of me... Why don't you preach that message to people who download tens of thousands of songs, movies, TV shows, games, and programs. I'm sure the MUSIC INDUSTRY should've died LONG TIME AGO, seeing as no one buys CDs anymore. The MOVIE INDUSTRY should've also died long time ago, seeing as everyone downloads movies and DVD sales have plummeted. |
Apr 4, 2011 6:43 PM
#46
Apr 4, 2011 6:44 PM
#47
Redfoxoffire said: diezle said: Redfoxoffire said: diezle said: well as a true anime lover i would like to say a few things... 1) what? 2) if you really want to improve sales, get better voice actors. Japanese seiyu's really put funimation to shame Get better ears. FUNimation's dubs tend to be very good. one out of ten shows is bearable. if it was as good as you said then anime sales wouldn't have dropped so steeply If you think the quality of the dubs is the issue, you are naive. didn't necessarily mean it would improve the sales, but something done as epically as geass will sell big time |
Apr 4, 2011 6:48 PM
#48
Leon-Gun said: All that happened was that the FUNimation executives decided to buy the company, so now they are independent once more. Whether this is a good or bad thing remains to be seen since now FUNi lacks the funds from another company to piggyback should a gamble goes wrong. Exactly. I was going to point that out until I read your comment on the second page. I believe this change may help them in controlling their own budget and overall management of the company. Instead of having to meet revenue quotas from Navarro (or get blamed for not meeting it and resulting in further debt for Navarro), they can make their own judgements based on their deals and estimate from there on. As a subber (and owner of Vexille which Funi licensed), I'd hate to see them go bankrupt. That would greatly limit the ability to purchase anime easily and for cheap (as opposed to buying raw which is expensive and rare if it's not popular). Especially considering Funi are providing it in Blu-ray while say, Viz doesn't even provide their most popular animes (namely Naruto and Bleach) in it. I am, however, against two fronts of the licensing of anime and these are the main reasons why I don't support these companies. 1) Americanisation of anime (sure, Funimation is based on the US, but the products are sold up north in Canada too, you know - and as a multi-culture nation, not everyone understand colloquial American gibberish). I don't mind it being localised, but only when/if the anime is based or themed with a western culture. It's completely redundant to use collogial American English for an anime set in the edo period. 2) Dubbing. Pretty much the same reason why many others hate it. Although, I did like the Duel Monsters dubbing. |
Team Leader & Manager of ray=out. A non-profit independent Japanese and Chinese anime/manga translation and subtitle provider. http://rayout.org/ - Browse through our site to get to know us better. |
Apr 4, 2011 6:51 PM
#49
alchemist11 said: Leon-Gun said: All that happened was that the FUNimation executives decided to buy the company, so now they are independent once more. Whether this is a good or bad thing remains to be seen since now FUNi lacks the funds from another company to piggyback should a gamble goes wrong. Exactly. I was going to point that out until I read your comment on the second page. I believe this change may help them in controlling their own budget and overall management of the company. Instead of having to meet revenue quotas from Navarro (or get blamed for not meeting it and resulting in further debt for Navarro), they can make their own judgements based on their deals and estimate from there on. As a subber (and owner of Vexille which Funi licensed), I'd hate to see them go bankrupt. That would greatly limit the ability to purchase anime easily and for cheap (as opposed to buying raw which is expensive and rare if it's not popular). Especially considering Funi are providing it in Blu-ray while say, Viz doesn't even provide their most popular animes (namely Naruto and Bleach) in it. I am, however, against two fronts of the licensing of anime and these are the main reasons why I don't support these companies. 1) Americanisation of anime (sure, Funimation is based on the US, but the products are sold up north in Canada too, you know - and as a multi-culture nation, not everyone understand colloquial American gibberish). I don't mind it being localised, but only when/if the anime is based or themed with a western culture. It's completely redundant to use collogial American English for an anime set in the edo period. 2) Dubbing. Pretty much the same reason why many others hate it. Although, I did like the Duel Monsters dubbing. i like this man. |
Apr 4, 2011 6:51 PM
#50
alexcampos said: Sure I do....It's called TORRENTS and streaming sites...they also put DUBS you know... FUNimation does a lot more than just add an English voice track. You wouldn't know, since you don't actually buy the products they release. alchemist11 said: 1) Americanisation of anime (sure, Funimation is based on the US, but the products are sold up north in Canada too, you know - and as a multi-culture nation, not everyone understand colloquial American gibberish). I don't mind it being localised, but only when/if the anime is based or themed with a western culture. It's completely redundant to use collogial American English for an anime set in the edo period. 2) Dubbing. Pretty much the same reason why many others hate it. Although, I did like the Duel Monsters dubbing. 1. Anime haven't been 'Americanized' in any fashion since the early 90s. 2. Audio -> Japanese, Subtitles -> English. |
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