SciFi Japan

    The End of ADV Films

    Former ADV titles will now be distributed by Section23 Films. © 2009 SXION 23, LLC.

    Company Transfers Assets, Shuts Down Source: ADV Films press release Special Thanks to Chris Oarr Anime distributor A.D. Vision, Inc. (ADV Films) has closed following the transfer of its licenses and properties to a number of companies based in its hometown of Houston, Texas. Founded in 1992, ADV developed an extensive catalog of popular anime titles such as NEON GENESIS EVANGELION, RAHXEPHON, CHRONO CRUSADE, ROBOTECH, DNANGEL, FULL METAL PANIC, ELFEN LIED, HELLO KITTY, AZUMANGA DAIOH, and GANTZ; live-action science fiction programs including FARSCAPE, ANDROMEDA, and MUTANT X; plus a number of feature films like the 1990s Gamera trilogy and the classic Godzilla movie DESTROY ALL MONSTERS. The company launched the cable channel and VOD service Anime Network in 2002. ADV also published the US edition of the Japanese animation magazine Newtype from 2002-2008. In 2005, ADV Films was named “Best Anime Company” at the SPJA award ceremony held during Anime Expo. ADV has suffered a number of financial setbacks in recent years, as well as the loss of several major licenses in 2008. Recent dealings have now given the holding company AEsir and distributor Section23 Films ownership of all films and programs still licensed to ADV Films as of 2009. Key personnel from ADV have been hired by Section23 and will maintain the previously-announced release schedule for the former ADV titles. From the press release: 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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