Analyzing ADV's Announcement (with Anime Alliteration)

Ain't it Cool News has posted a horribly-formatted press release from ADV Films, A.D.VISION, INC. CONCLUDES SERIES OFASSET TRANSACTIONS. (And when I say "horribly formatted," I'm talking shifts from one font to another in the middle of a sentence.  Twice.  In a two-page press release.)

As I typed this blog post, the press release replaced ADV's homepage. So, this is serious.

Basically, it looks like ADV has sold a bunch of its assets to other companies. From the press release: Through an asset purchase agreement, AEsir Holdings, LLC ("Aesir") acquired a subordinated interest in selected programming from ADV's film library together with other intellectual property.... Which means, AEsir has bought that "selected programming," whatever that is. Some (or all?) of ADV's anime, live-action works, etc.

Who's AEsir? No idea. It doesn't show up on web searches, except in three cases:  In relation to this story, as a business name registered in Colorado, and as a parked domain name. Great! So it's sold to a shadowy company.

In the next paragraph, more sales! ...the Company [ADV] concluded an asset purchase agreement with SXION 23, LLC, doing business as "Section23 Films"...under which it assumes account servicing and distribution operations in connection with the library acquired by Aesir. Okay. So, another company, that's doing business under a different name, will be distributing the stuff that AEsir bought. This is sounding increasingly complicated, which is rarely good news. Especially considering I've never heard of these companies before. Sxion 23 and Section 23 Films don't show up on web searches either, except as part of this story. I did stumble upon a record indicating that Section 23 has an office in Texas, so they're physically close to ADV. Valkyrie Media Partners, LLC ("Valkyrie") acquired a 100% equity position in Anime Network, Inc. ("ANI")...pursuant to a stock purchase agreement. Plus, ADV sold the Anime Network to this company called Valkyrie (which at least has an anime-related name, intentional or not), assuming Valkyrie moves forward with buying out all the stock in Anime Network. Valkyrie's another company that's not on the web.

But wait! There's more! If you order in the next 10 minutes, you get Amusement Park Media, an incredible value! In another separate transaction, Seraphim Studios, LLC acquired Amusement Park Media, the production unit of A.D. Vision, Inc. Whew. ADV's completely gotten rid of their production unit. This company's harder to nail down, as there are multiple Seraphim Studios on the web. The most prominent works in stained glass in Mississippi, so I assume that's not the one. There's also a photography studio in Atlanta, GA and a group of programmers that mainly develops Asheron's Call plugins.

So. ADV's sold large chunks of their stuff (but maybe not all of it!) to various companies that appear largely invisible--or, at least, not online.

Anime News Network claims that this means that ADV has shut down; they've even got confirmation that several ADV staffers have been hired by Sxion 23. If so, this is an even more horribly-formatted press release than I thought. As bad as it sounds ("we're selling off large chunks of ourselves to outsiders"), it doesn't say that ADV's going out of business. Plenty of other companies have hemorrhaged subsidiaries without completely dying.

That said, if ADV really is dead, I'm not surprised. The published Newtype USA, then shut that down, then they launched PiQ as a broader-focused magazine, then shut that down after only four issues. They stopped doing hentai a few years ago. All their Sojitz/Klockworx titles were pulled and went over to Funimation last year.

They were a solid member of the industry for over 15 years, but it looks like their time has come.