Dentsu On Geneon USA

    September 21, 2007

A new and very brief press release on Dentsu's site in Japan has appeared in which it confirms that the deal between Geneon USA and ADV Films is now withdrawn. The document indicates that Geneon USA will focus on management of its portfolio, which in some readings seems to indicate a possible future similar to how Kadokawa Pictures USA operates. Of interest, some information on how each company is at the moment is included. Geneon USA currently has 39 employees and is 100% owned by Dentsu. ADV Films is listed with 114 employees where founder John Ledford has a 78.4% ownership in the company while the limited partnership that started up this year with Sojitz, Development Bank of Japan and KlockWorx makes up the remaining 21.6%.