R.I.P ADV Films

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Rickster
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R.I.P ADV Films

Post by Rickster »

Well this isn't the best news to come out of the anime world. Wonder if our passion is loosing support? (shudder) :?

FOR IMMEDIATE RELEASE


A.D.VISION, INC. CONCLUDES SERIES OF ASSET TRANSACTIONS

HOUSTON, September 1, 2009 — A.D. VISION, INC. ("ADV" or the "Company") announced today that June 1, 2009, the Company concluded a series of transactions that are expected to result in seamless delivery of home video products and television programming to customers.

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 subject to all liens and security interests of the Company's senior secured lender. The transaction requires Aesir to assume specific obligations and scheduled liabilities of the Company under legacy license agreements associated with the acquired programming.

Concurrently, the Company concluded an asset purchase agreement with SXION 23, LLC, doing business as "Section23 Films," a home video distribution company, under which it assumes account servicing and distribution operations in connection with the library acquired by Aesir, subject to all liens and security interest of the Company's senior secured lender.

John Ledford, ADV's President and CEO, states "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."

In a separate transaction, Valkyrie Media Partners, LLC ("Valkyrie") acquired a 100% equity position in Anime Network, Inc. ("ANI"), formerly ADV's television unit, pursuant to a stock purchase agreement between ADV and Valkyrie. That transaction includes an assumption by Valkyrie of specific liens and security interests of the Company's senior secured lender.

In another separate transaction, Seraphim Studios, LLC acquired Amusement Park Media, the production unit of A.D. Vision, Inc.

Further announcements are expected from the respective acquiring entities over the coming days
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Sasami Jurai
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Re: R.I.P ADV Films

Post by Sasami Jurai »

NOOO!!!!! I've always wanted to become a voice actress for A.D.V. Films!! It was my ultimate dream! >.< I'm serious, by the way.

Although, I don't think A.D.V. Films is going bye-bye. I'm just too lazy to read your post. -.-"

Sorry. 8-[

But A.D.V. Films is a great deal to me. :mrgreen: :D
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Rickster
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Re: R.I.P ADV Films

Post by Rickster »

It's sad but their website is gone now. Just a copy of the letter I posted....

http://www.advfilms.com/
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Sasami Jurai
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Re: R.I.P ADV Films

Post by Sasami Jurai »

So.... what does that mean? A.D.V. Films won't distribute any more Anime or what?

A.D.V. Films Production is gone? Everyone who works for it gets fired and its company in Houston, Texas is closed down?
Don't wake me; I plan on sleeping in
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raven2424
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Re: R.I.P ADV Films

Post by raven2424 »

well looks like there closed down and maybe another company like funamation will take over by hiring more people and taking on more anime series to release in north america
http://www.AlloutAnime.com - Earn stars and get free Anime & Gaming Gear!
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