Geneon and ADV Films: No Deal21 Sep, 2007 By: Chris Tribbey
Geneon Entertainment and ADV Films have called off a deal that would have had ADV Films distributing, selling, and marketing Geneon's titles in the United States.
Calls to a Geneon spokesman were not immediately returned. However the Anime News Network Web site reported that a majority of Geneon's sales division had been laid off in anticipation of the deal.
“Geneon is an important player in the anime business and has a catalogue we really admire,” said ADV Films spokesman Chris Oarr. “It's unfortunate we were unable to come to terms with them. We wish them the best.”
ANN also reported Dentsu Inc., the Japanese parent company of Geneon, was set to close Geneon's American in-house production by the end of 2007.
The distribution and sales deal, announced Aug. 29, was set to take effect Oct. 1.