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Ktimene's Lover
 Baka Ranger
Joined: 23 Apr 2005
Posts: 2242
Location: Glendale, AZ (Proudly living in the desert)
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 Posted: Tue Sep 01, 2009 2:51 pm |
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| This is really bad. Geneon and Central Park Media are gone and now ADV lives on in other companies. |
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Kimiko_0
Joined: 31 Aug 2008
Posts: 1431
Location: Leiden, NL, EU
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| Posted: Tue Sep 01, 2009 3:06 pm |
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| Is there a lawyer in the house who can translate the press release into English? |
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Case
Joined: 09 Apr 2002
Posts: 1016
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| Posted: Tue Sep 01, 2009 7:17 pm |
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| Kimiko_0 wrote: | | Is there a lawyer in the house who can translate the press release into English? |
I'm not a lawyer, but I can try to summarize:
| Press Release wrote: |
A D VISION SELLS ASSETS
HOUSTON, September 1, 2009 — A D VISION announced today that as of June 1, 2009, the company sold assets to other business entities. The asset sale isn't expected to interrupt the flow of our products to our customers.
AEsir Holdings, LLC bought "a subordinated interest in selected programming from ADV's film library" minus a certain amount of debt we owe on a loan we haven't paid off yet.
Section23 Films bought our "account servicing and distribution operations" for the programming bought by AEsir.
John Ledford, ADV's President and CEO, says the sale leaves ADV with the same amount or more money to pay off the company's loan, and for unpaid bills on anime the company may have licensed. The sale also means ADV's employees and customers may not face a total loss of what they expect from ADV.
In a separate transaction, Valkyrie Media Partners bought The Anime Network. This sale also includes a promise to pay off part of ADV's loans.
In another separate transaction, Seraphim Studios bought Amusement Park Media, ADV's in-house dubbing studio.
Further announcements are expected from the companies named above over the coming days.
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animenexus
Joined: 26 Nov 2008
Posts: 33
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| Posted: Wed Sep 02, 2009 9:11 pm |
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| ADV is not dead! It just lives on in our hearts |
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