ADV Films Shuts Down, Parent Transfers Assets to Other Companies (Updated)posted on 2009-09-01 13:44 EDTAEsir Holdings, SXION 23, Valkyrie Media Partners, Seraphim Studios acquire assets
A.D. Vision, the parent company of ADV Films, has announced that it is shutting down after transfering its assets to several other companies that will continue its operations. AEsir Holdings has acquired selected programming from ADV's film library along with other intellectual property. The SXION 23 (Section23 Films) home video distribution company will assume account servicing and distribution operations for AEsir's assets. Valkyrie Media Partners has acquired 100% of ADV's Anime Network television unit, while Seraphim Studios has acquired ADV's Amusement Park Media production unit.
Former ADV Films staffer Chris Oarr has notified ANN that several former staffers have been hired by SXION 23 and the other companies.
Update: All of the new companies are officially based in Houston, the home of A.D. Vision. SXION 23's business filing was dated on May 20, while AEsir Holdings, Valkyrie Media Partners, and Seraphim Studios share the same address in western Houston, 8 miles (13 kilometers) from A.D. Vision. Media Partners, and Seraphim Studios were filed eight days later on May 28. SXION 23, Sentai Filmworks, another business entity for which A.D. Vision and Amusement Park Media handled distribution and production, is also located in western Houston.
I really hope some more details come to light on this ASAP (such as which "select titles" have been acquired), as right now it sounds like some elaborate shell game.
Whatever is going on, I hope that come through it. ADV sure rocketed to the top, but then they plummeted down. Hate the big guy all you want, but the anime industry certainly benefits greatly from having a couple giants that can get into mass distribution channels and if ADV's done playing the game, then all we are left with on that scale is FUNimation. As much as I've loved them lately, it's never healthy to have the industry relying so heavily on one company.