News Dentsu is Geneon's Sole Owner After Mitsubishi Divests
posted on 2007-09-11 08:55 EDT
In its August 29 press release that announced A.D. Vision's handling of Geneon Entertainment (USA)'s distribution, Japan's Dentsu advertising agency revealed that it now owns 100% of Geneon USA again. The Geneon anime production company had started business as Pioneer's LDC laserdisc subsidiary before Pioneer sold it to Dentsu in July of 2003. The Mitsubishi conglomerate's d-rights subsidiary then entered a joint venture with Dentsu to acquire a 34% equity stake in Geneon Entertainment in June of 2006. With Mitsubishi's divestment, Geneon is now a wholly owned subsidiary of Dentsu again.
The press release also noted that A.D. Vision co-founder John Ledford owns 78.4% of that anime distributor [Editor: A.D. Vision], with 21.6% owned by the Japan Contents Investment Business Limited Partnership (an investment fund formed by Sojitz Corporation, Development Bank of Japan and The Klockworx Co., Ltd.) KlockWorx is a wholly owned subsidiary of Sojitz.