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NEWS: Ventura Files General Assignment, Liquidates Assets


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GATSU



Joined: 03 Jan 2002
Posts: 15279
PostPosted: Mon May 08, 2006 6:18 am Reply with quote
Remember when it used to be internet start-ups which were this unreliable?
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TiredGamer



Joined: 11 Mar 2004
Posts: 246
Location: Florida
PostPosted: Mon May 08, 2006 8:31 am Reply with quote
It isn't crooked accounting or pie-in-the-sky dreaming, Gatsu. This was just everyone in the pipeline deluding themselves that this little crisis would work itself out and everyone would get paid.

If I'm not completely off-base, I think this also means any remaining stock from ADV et al. that Ventura is holding now belongs to the liquidators. I wonder if the publishers will buy it back or risk having it compete on the open market. That could represent a serious dent in sales if it were sold under cost.
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Joe Mello



Joined: 31 May 2004
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PostPosted: Mon May 08, 2006 9:50 am Reply with quote
I'm a little confused as to what's going on. What does this mean for "us" aside from the fact that my bank is short a few mil ^^; (I use PNC)
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Dargonxtc



Joined: 13 Apr 2006
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PostPosted: Mon May 08, 2006 11:45 am Reply with quote
Joe Mello wrote:
I'm a little confused as to what's going on. What does this mean for "us" aside from the fact that my bank is short a few mil ^^; (I use PNC)
It means that Funimation, ADV, Media Blasters, Geneon, Viz Media, Tokyopop, and Urban Vision, which are owed millions of dollars are not going to get there money. And if they ever do, it will be a long court battle over many years. This means the cost of this will be on this years Annual Report, which could scare investors and lower stock price. It's what I call an instant cost(debt). Don't get scared, it all depends on how large these companies bank rolls are, the ones that are doing well should be alright. But none the less a thorn in the side they would rather not deal with.

Second they are going to have to find a new distributor. Which could be a good thing(or bad). But still a pain in the ass none the less.
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AstroNerdBoy



Joined: 03 Feb 2004
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PostPosted: Mon May 08, 2006 12:38 pm Reply with quote
Dargonxtc wrote:
Joe Mello wrote:
I'm a little confused as to what's going on. What does this mean for "us" aside from the fact that my bank is short a few mil ^^; (I use PNC)
It means that Funimation, ADV, Media Blasters, Geneon, Viz Media, Tokyopop, and Urban Vision, which are owed millions of dollars are not going to get there money.


I was under the impression that only Viz, TP, and Urban Vision were using this distributor.
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Dargonxtc



Joined: 13 Apr 2006
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PostPosted: Mon May 08, 2006 12:40 pm Reply with quote
AstroNerdBoy wrote:
I was under the impression that only Viz, TP, and Urban Vision were using this distributor.
No, if you click the previous articale you will find out these other three are involved as well.
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CorneredAngel



Joined: 17 Jun 2002
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PostPosted: Mon May 08, 2006 2:44 pm Reply with quote
Dargonxtc wrote:
It means that Funimation, ADV, Media Blasters, Geneon, Viz Media, Tokyopop, and Urban Vision, which are owed millions of dollars are not going to get there money. And if they ever do, it will be a long court battle over many years. This means the cost of this will be on this years Annual Report, which could scare investors and lower stock price. It's what I call an instant cost(debt).


Of these, only Funimation and Geneon are on the stock market, and Geneon only in Japan. The rest are all private and/or backed by venture capital money.
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Dargonxtc



Joined: 13 Apr 2006
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PostPosted: Mon May 08, 2006 4:38 pm Reply with quote
CorneredAngel wrote:
Of these, only Funimation and Geneon are on the stock market, and Geneon only in Japan. The rest are all private and/or backed by venture capital money.
Well then I would say those who are backed by private backers might not have as much money(on hand) and may feel this more. Even though it is only like a million to 3 million for each of them, it all depends on how much, well, money they have. If these debts are less than 5% of what the assets(ones that still provide income), and all other property rights and services, they will be alright. You know much more of that stuff than I would because I really didn't want to look it up(I didn't know only 2 were public). But really if you add all that stuff up, it can get to 100 million pretty quick. And if the ones who can't get under 5%, it is just basicaly going to be a pain for there financial officer. However if cuts are made in some areas for this, it should only last a fiscal year.
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KaidoYuji8Shinji-kun



Joined: 13 Jul 2004
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PostPosted: Mon May 08, 2006 6:35 pm Reply with quote
I just dont get it.. Why can all the other companies get their money back and companies like FUNimation, Geneon, TP and ADV not?
They are businesses too..
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Dargonxtc



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PostPosted: Mon May 08, 2006 7:28 pm Reply with quote
KaidoYuji8Shinji-kun wrote:
I just don't get it.. Why can all the other companies get their money back and companies like FUNimation, Geneon, TP and ADV not?
They are businesses too..
Right they are a business too. And the company that owes them money don't got it. What do you expect the CEO to do, go put a cap in Ventura's peripheral ass.
The only way they will get there money back is in court, which is an uphill battle, and a long way down the road.
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kusanagi-sama



Joined: 22 Aug 2004
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Location: Wichita Falls, TX
PostPosted: Mon May 08, 2006 7:40 pm Reply with quote
KaidoYuji8Shinji-kun wrote:
I just don't get it.. Why can all the other companies get their money back and companies like FUNimation, Geneon, TP and ADV not?
They are businesses too..


The debt owed to them is unsecured, which means it isn't tied to anything. Other companies that will get paid are secured, which means the money is tied to an asset (The merchandise sold to Ventura for example). Not sure why the anime companies didn't classify the money owed to them as secured.
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Wakaiba



Joined: 08 May 2006
Posts: 62
PostPosted: Mon May 08, 2006 7:43 pm Reply with quote
I'm a very uninformed (but self-acknowledged) fan of the industry - does anyone know if this will impact the release of new titles, quality of Ventura's licencees product(s), and/or the amount of product(s) produced will decline?
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hooliganj



Joined: 03 Jul 2004
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PostPosted: Mon May 08, 2006 8:45 pm Reply with quote
Wakaiba wrote:
I'm a very uninformed (but self-acknowledged) fan of the industry - does anyone know if this will impact the release of new titles, quality of Ventura's licencees product(s), and/or the amount of product(s) produced will decline?

Dargonxtc has summed it up fairly well - the amount owed to any individual company isn't large enough to have a severe impact on their business, although Urban Vision isn't a very big company to begin with, so they may feel the impact harder than the others. Still, for the most part, all it means is that these companies might not have as much to spend on new licenses in the upcoming year.

Expect another slow summer, announcement-wise.
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Anime_Freak



Joined: 07 Dec 2002
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PostPosted: Mon May 08, 2006 8:55 pm Reply with quote
Does this mean some of the titles already released/will be released by these companies be lower/cheaper than usual then? Or will they be higher in order to make up the money they just lost?
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DarkTenshi90



Joined: 04 Sep 2005
Posts: 440
Location: Nebraska
PostPosted: Mon May 08, 2006 10:03 pm Reply with quote
Anime_Freak wrote:
Does this mean some of the titles already released/will be released by these companies be lower/cheaper than usual then? Or will they be higher in order to make up the money they just lost?
I doubt it. The cheapest you may get out of the companies are the thin-packs and the brick packs. Their maybe sales, but not really for the new releases, which may help them back on their feet.

If I am wrong, please correct me.
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