Navarre Looking to Sell FUNimation? - Mania.com



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Navarre Looking to Sell FUNimation?

    May 27, 2010
Source: MarketWatch

MarketWatch has a new blurb up this morning about Navarre looking to sell FUNimation as it re-evaluates its plans. The general gist is that in order to move FUNimation forward so it can grow better and more, they need to get it to someplace that deals more with content creation, which is not what Navarre is focused on. They do specifically state that FUNimation has generally met expectations and several conference calls over the last few years has indicated that FUNimation has often been the main division of Navarre that boosted overall profitability.

"Company Expects to Present FUNimation Entertainment as a Discontinued Operation Beginning in the First Quarter of FY 2011"

"Navarre is pursuing a more focused strategy. Now that we have substantially reduced debt and improved operating margins, we are focusing our efforts on driving revenue, particularly in new product lines. We are concentrating all efforts on our distribution and software publishing businesses where we have significant expertise and considerable systems and physical assets that can be leveraged. The Punch! acquisition announced last week strengthens our software publishing business and demonstrates a step in our execution of this strategy," stated Cary L. Deacon, Chief Executive Officer.

FUNimation Entertainment's strategy and capital requirements are distinctly different from those of the Company's core business. While FUNimation's recent results have generally met expectations, the strategies required to grow the business include co-productions of original anime content, social networks and digital broadcasting. The Company anticipates that those plans are best executed with ownership that has assets or expertise in those areas.The Company will be discussing its going-forward strategy and financial outlook in greater detail next week in connection with its FY 2010 year end conference call. 

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Due to the nature of this, it's unlikely we'll hear any serious comment from FUNimation at this point on it, but the general news and comments made in the blurb will likely send what's left of fandom's mental state completely off a cliff.

COMMENTS AND RESPONSES

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otakumatt 5/27/2010 8:32:17 AM

this will devisate the anime world if they find other avenues.funamition cant close they need some help is there any campany out there that will help funamtion alive into the furture

tiredjay 5/27/2010 10:16:29 AM

Actually, this is good news.  Basically, it states that Navarre doesn't have much confidence in it's own ability to manage Funimation, and thinks that selling it to someone who does have such an ability would be what's best for both Navarre and Funimation in the long run.  Navarre's been a poor fit for Funimation since the day they bought them, and at least they're looking to the future as opposed to just slashing and burning like they did with BCI.

mudduck454 5/27/2010 10:18:00 AM

well maybe they should just merge with geneon universal.

 

but then again they could merge with any anime company and it would be a boost to the other company

ReVolutionOfEvangelion 5/27/2010 10:31:59 AM

God help us all.

Betenoire 5/27/2010 11:10:37 AM

Of course they are trying to sell it as opposed to BCI as FUNi has a value and BCI had debt. Eh, it isn't the end of the world. They will either wind up with a company that will manage the brand as well as Navarre did...which was mostly leaving them alone it sounds like...or the brand will fade and something else will step up into any gap created. As long as there is a market (which is the real tricky part right now) someone will be trying to sell items to it.

jaguar525i 5/27/2010 11:45:06 AM

This will be good if it allows FUNI to expand their production. My only concern is that they don't change how they produce anime, and continue to put out Eng. Dubs.

insaneben 5/27/2010 11:50:48 AM

Thank you, tiredjay and Betenoire, for providing something none of these other posts have: logic.

As for who might purchase Funi... I have no idea. My super-swami powers tell me it might be Sony (since they've dabbled in anime before and have sizeable-enough bank to not only keep Funi afloat, but moving above and beyond other anime distributors' boundaries). Of course, it could also be Disney, Lion's Gate or Warner Bros. (just to throw a wild card into the mix).

Then again, they could go back to operating as an individual entity, albeit with financial backing from a private investor/investment group. Let's just wait and see before there are any more knee-jerk reactions before June 4th.

Hectotane 5/27/2010 11:55:32 AM

I'm coming at this from many angles:

  1. The heads of FUNi aren't whining like that little dog over at "Poof Sputter."
  2. "Co-Production of Anime" means more anime creators realizing that the fanbase doesn't consist of just infantile suck-@-life losers.
  3. FUNi is a true success story during this Great Recession.
  4. I'll also wait until a clearer description of Navarre's actions is known.
  5. My hope is that FUNi doesn't license any more animu about loser shounen and jailbaits.
Calibur454 5/27/2010 5:38:20 PM

this could be a bad thing- funi has to sell to the right people or they will end up being screwed over. I am rather surprised seeing as how funimation is the biggest anime company out there at the present time.

Perhaps they could merge with sentai filmworks who are presently snagging a handful of really great tiltles like golgo 13. I also hope they continue to release dubs

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