News Madman Entertainment Completes Buy-Back from Funtastic Limited
posted on 2014-07-31 08:56 EDT
The post from Tim and Paul states the sale means;
For Madman, it means restored independence, strong financial backing and the opportunity for exciting growth and innovation.
We love the content and the partners we represent with a geek-like zeal, so we will continue to grow and strengthen that part of our business, both through traditional distribution as well as emerging channels.
The post then continues to state that they are excited about their current and upcoming release slate, that they're producing original content and that the launch of AnimeLab is expected to be the "Beginning of an amazing new direction for Madman."
This news is the completion of journey started with the announcement in March that Funtastic Limited planned to sell Madman Entertainment as they discovered that Madman's market value was half it's carrying value. The very next day ANN was informed that Madman's original owners, Tim Anderson and Paul Wiegard, had started a process to purchase the company back from Funtastic Limited. Details on the sale have not been made public.