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Madman Entertainment to be Sold Back to Original Owners

posted on 2014-03-07 01:17 EST
Tim Anderson and Paul Wiegard to purchase Australian media distributor Madman Entertainment as part of a small consortium;

Following on from yesterday's announcement that Funtastic Limited will be selling Madman Entertainment. Today the original founders of Madman Entertainment, Tim Anderson and Paul Wiegard, announced that they would be purchasing the company back from Funtastic Limited.

The announcement was posted to us here at Anime News Network and it can also be read on Madman's new tumblr page. Written by Tim Anderson and Paul Wiegard, the announcement goes onto explain some of the 18 year history of Madman, it's beginnings in a bedroom and how they had a difficult decision to make when selling the company to Funtastic

"It was not an easy decision for us to make, having grown Madman from nothing into a successful film and television distribution business, with a great team and content that we were both passionate about."

The announcement then continues on to state how Funtastic and Madman's aims had diverged and that Tim Anderson and Paul Wiegard wanted to be back in control and continue to develop Madman in a rapidly changing landscape full of possibility.

Funtastic Limited has agreed to sell Madman Entertainment back to Tim Anderson and Paul Wiegard, Funtastic have already agreed to key terms of the sale and are heading into an exclusive negotiation period[1] and Tim Anderson and Paul Wiegard expect a final sale agreement for Madman Entertainment to be signed in a few weeks.

So in Tim Anderson and Paul Wiegard's own words;

"We believe that this will be the start of an exciting new stage for Madman. We hope we can deliver a bit of that excitement to you sometime in the future!"

Notes

You can view the original announcement on Madman Entertainment's newly minted Tumblr and in our Press Release section. If you would like to know more about Madman Entertainment please visit their website.

[1] - Where both sides agree not to speak with third parties, the buyers (in this case, Tim Anderson and Paul Wiegard) are the only people Funtastic Limited can consider selling Madman Entertainment to during the negotiation period.


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