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News Categories

> Anime
> Anime > DVD
> Press Releases
> Production

ADV Films Shuts down

Date: 2009 September 2nd Wednesday [17:51] | Posted By: Joe

US based Anime company ADV have closed. A detailed write up can be found on Anime News Network.

Apart from the asset transfers to other companies registered in Texas (where ADV was based), the details are still coming to light.

Below we've included the press release from ADV along with the press release from Section23 Films.
Full Story
Below we've included the press release from ADV along with the press release from Section23 Films.

Press release as follows:

FOR IMMEDIATE RELEASE

A.D.VISION, INC. CONCLUDES SERIES OFASSET TRANSACTIONS

HOUSTON, September 1, 2009 Ė 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 ADVís film library together with other intellectual property subject to all liens and security interests of the Companyís 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, ADVís President and CEO, states "We believe the actions we initiated and completed provided the same or more value to the Companyís 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 ADVís 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.





Press release as follows:

FOR IMMEDIATE RELEASE

SECTION23 FILMS ANNOUNCES

NOVEMBER SLATE


Includes Five New Anime from Sentai Filmworks


HOUSTON, September 2, 2009 - Home video distributor Section23 Films today announced its November 2009 slate of new DVD releases.

Section23 client Sentai Filmworks is coming out with six new home video releases, including five anime series never before available on DVD in North America. These new series are Blue Drop, Polyphonica, Special A, Tears to Tiara, and You're Under Arrest Season 2. Sentai Filmworks is also releasing the second collection of the anime series Little Snow Fairy Sugar in November.

Switchblade Pictures, another Section23 client, has two "live-action" DVD releases straight from Japan - the sci-fi horror collection Ki-Gai, and the sci-fi thriller Nu-Meri ~ Book of the New Spawn.

Product details follow, in order of release

Coming November 2009

Title: KI-GAI
Running Time: 130 min.
Age Rating: Unrated - V
CAT: SWB-0111
UPC: 814131011107
Published by: Switchblade Pictures
Distributed by: Section23 Films
Pre-Book Date: 10/6/2009
Street Date: 11/3/2009
Format: DVD
SRP: $19.98


Title: YOU'RE UNDER ARREST SEASON 2 COLLECTION 1
Running Time: 325 min.
Age Rating: TV PG (V)
CAT: SF-YUA201
UPC: 814131011206
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/6/2009
Street Date: 11/3/2009
Format: DVD
SRP: $39.98


Title: NU-MERI ~ BOOK OF THE NEW SPAWN
Running Time: 76 min.
Age Rating: Unrated - V
CAT: SWB-0114
UPC: 814131011404
Published by: Switchblade Pictures
Distributed by: Section23 Films
Pre-Book Date: 10/13/2009
Street Date: 11/10/2009
Format: DVD
SRP: $19.98


Title: SPECIAL A COLLECTION 1
Running Time: 300 min.
Age Rating: TV PG
CAT: SF-SPA100
UPC: 814131011503
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/13/2009
Street Date: 11/10/2009
Format: DVD
SRP: $39.98


Title: BLUE DROP COMPLETE COLLECTION
Running Time: 325 min.
Age Rating: TV 14
CAT: SF-BD100
UPC: 814131011701
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/20/2009
Street Date: 11/17/2009
Format: DVD
SRP: $39.98


Title: LITTLE SNOW FAIRY SUGAR COLLECTION 2
Running Time: 325 min.
Age Rating: TV PG
CAT: SF-LSF200
UPC: 814131011800
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/20/2009
Street Date: 11/17/2009
Format: DVD
SRP: $39.98


Title: POLYPHONICA COMPLETE COLLECTION
Running Time: 300 min.
Age Rating: TV 14
CAT: SF-PY100
UPC: 814131013200
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/20/2009
Street Date: 11/17/2009
Format: DVD
SRP: $39.98


Title: TEARS TO TIARA COLLECTION 1
Running Time: 325 min.
Age Rating: TV PG
CAT: SF-TT100
UPC: 814131011909
Published by: Sentai Filmworks
Distributed by: Section23 Films
Pre-Book Date: 10/27/2009
Street Date: 11/24/2009
Format: DVD
SRP: $39.98



About Section23 Films

Section23 Films provides home video marketing and distribution services for a variety of companies, including Sentai Filmworks, Switchblade Pictures, and AEsir Holdings. With its special focus on genre entertainment, Section23 Films distributes some of the very best anime, martial arts, and horror titles on the market today.

Source: ADV Films

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