Pioneer Sells Off Anime Units21 Jul, 2003 By: Hive News
Electronics maker Pioneer Corp. will sell its Pioneer Entertainment (USA) unit to Tokyo-based advertising firm Dentsu Inc., along with its Japanese-based entertainment subsidiary Pioneer LDC, Inc.
Both subsidiaries are engaged in the audio/video software business and have been part of Pioneer's consolidated business performances in the field of software supply.
The specific conditions, timetable and other details of the transfer have not been disclosed, but all the issued shares of the two Pioneer companies are expected to be sold to Dentsu.
Tokyo-based Pioneer LDC, plans, produces and sells of a variety of video and music software in Japanl it has 145 employees.
Pioneer Entertainment (USA) Inc., headquartered in Long Beach, Calif., plans, produces and sells of music and video software, mostly anime, in the United States. Pioneer Entertainment (USA) has 43 employees.
This move is part of Pioneer's effort to "select and focus" its resources and operations on core businesses to promote even more efficient and effective management, a spokesperson said.<