Anime distributor ADV Films has completed liquidation and transfer proceedings begun on June 1st in the wake of its near dormancy after losing 80 titles last year after its venture with former investor Sojitz failed, leading to a license transfer to current market leader Funimation last July.
Distilling the to its actual meat, this means that ADV Films is no more, with the following companies handling former ADV Films operations as of today:
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Section 23 (DBA: SXION 23, responsible for home video distribution)
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AEsir Holdings and Media Group (holds former ADV IP and additional titles)
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Valkyrie Media Partners (now operates The Anime Network VOD service)
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Seraphim Studios (operates Amusement Park Media recording facilities)
Griffin Vance was A.D. Vision’s former Senior Vice-President of Business and Legal Affairs, but former owner John Ledford is not a part of the new operations to Section 23 Sales and Marketing head Mike Baliff despite being listed in the (, , , ) official filings as being part of the new AEsir Media Group.
Former ADV Films staff are in key positions in Section 23 with Griffin D. Vance IV listed as the principal registrant on the above listings.
Section 23 will continue to service current retail and distribution agreements with no change in release schedules, with Chris Oarr and other former ADV staff members being a part of the new distributor.
The status of Sentai Filmworks and other labels under the old ADV Films umbrella is unknown at this time although this bit of corporate speak from Ledford is telling:
“We believe the actions we initiated and completed provided the same or more value to the Company’s secured lender and its programming licensors while giving other key stakeholders such as employees and customers some potential value or the reasonable probability of realizing value.”
Translation: This might make the bank who holds our bridge loan more money or the same amount while our customers, employees and other people involved might get something out of it.
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