Forum - View topicNEWS: Navarre Sells Funimation to Group with Gen Fukunaga
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Keonyn
 Subscriber Posts: 5567 Location: Coon Rapids, MN |
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I don't know how parts of this thread turned in to a discussion about Sega but you may notice that part is now missing. Let's keep this on topic people.
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Redbeard 101
Oscar the Grouch
Forums Superstar  Posts: 16939 |
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As far as I knew that had been the case for a while. Maybe you Justin can find exact numbers but I could swear I've seen reports here and elsehwere that basically stated Funimation was the only thing making Navarre money. That Navarre continued to struggle but Funimation continued, even given the anime decline, to make money and be profitable. I could also swear I saw an article here once stating along the lines of Navarre taking money from Funi to keep themselves floating along. Regardless I am sure I've seen numerous articles here before basically stating Funi was making Navarre money and Navarre was relying on them and not the other way around. I"m personally surprised they would sell Funi given that but maybe they needed a big cash influx. Regardless the good news is now HOPEFULLY Funimation won't have to kick any money they make up a parent company but can keep it all. If that is the case now and they stay profitable and keep making money hopefully that will mean that they can get more titles and big name ones at that. |
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jr240483
 Posts: 4385 Location: New York City,New York,USA |
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It seems that way. The good thing is that Gen is the major owner of Funi and not some crappy nobody that would make it as extinct as Geneon and Central Park Media. That is at least a relief But i still dont get that why in the holy high hell would Navaree would do this? Especially since i've been reading news about funi's quarterly earnings that have profits? If they were losses , then I would understand,but not the other way around. |
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agila61
 Posts: 3213 Location: NE Ohio |
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Selling a presently profitable non-core subsidiary is a lot more likely to get cash up front, especially since its fairly speculative what kind of profits Funimation is going to get from one year to the next. The more cash they put into their retooling, the easier it is going to be to finance the balance. That's also why the quit price that Gen and Friends bought it for is reputed to be about what its worth on a fair reckoning ~ Navarre had no incentive to sell it for less than it could raise by borrowing against its prospective future profits. However, there would be a discount there due to the volatility of earnings in the business Funimation is in, and selling at a fair price removes that uncertainty and replaces it with cash in hand. |
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enurtsol
 Posts: 14784 |
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Gen Fukunaga is just a minority stakeholder. |
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agila61
Posts: 3213 Location: NE Ohio |
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He does, however, clearly continue to the company. If the other investors were uninterested in investing in his vision of where to take the company, it seems highly unlikely they would have joined in support of his bid for the company. |
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