ADV Films Sells Assets1 Sep, 2009 By: Chris Tribbey
Anime distributor ADV Films, at one point the No. 1 distributor of anime DVDs in America, is no more.
The Houston-based company announced Sept. 1 that it had sold its assets to a series of companies, with AEsir Holdings LLC picking up ADV’s film library. Section23 Films assumes account servicing and distribution operations.
Valkyrie Media Partners LLC has acquired ADV’s television unit, Anime Network, while Seraphim Studios LLC has picked up ADV’s production unit, Amusement Park Media.
“We believe the actions we initiated and completed provided the same or more value to the company’s secured lender and its programming licensors while giving other key stakeholders such as employees and customers some potential value or the reasonable probability of realizing value,” said ADV president and CEO John Ledford.
ADV was best known for its “Neon Genesis Evangelion” franchise. In 2007 the company attempted to lift its profile by taking over the library of failed anime distributor Geneon. However, that deal fell apart, with distributor Funimation picking up distribution, marketing and sales of Geneon titles.