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R.I.P ADV Films

Posted: Oct 04, 2009 1:09am
by Rickster
Well this isn't the best news to come out of the anime world. Wonder if our passion is loosing support? (shudder) :?



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

Re: R.I.P ADV Films

Posted: Oct 10, 2009 10:28pm
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

Re: R.I.P ADV Films

Posted: Oct 13, 2009 1:07am
by Rickster
It's sad but their website is gone now. Just a copy of the letter I posted....

Re: R.I.P ADV Films

Posted: Oct 13, 2009 10:01am
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?

Re: R.I.P ADV Films

Posted: Nov 28, 2009 4:06pm
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