AnimeVice.com is reporting that ADV, a long time distributor and translator of anime and other Japanese films for the US market has shut down, with the company’s AnimeNetwork.com service and some of it’s licences being transitioned to holding companies.
Previously ADV had run into some financial problems, and had to do some significant layoffs, as well as making deals with Funimation so some of their licenses (including the Full Metal Panic series) could continue to be released, as they couldn’t afford to pay for distribution through the standard retail channels at that time. However, recently, they had appeared to be doing better financially, as they’d started releasing their own content again, and had begun acquiring new content – notably rescuing Grave of the Fireflies from the ashes of Central Park Media’s demise. So, I’d have to say that this caught me entirely by surprise.
I will be at Kumoricon in Portland, Oregon this weekend (Saturday through Monday of next week), and will be covering it for the site, so I’ll keep an eye and ear out for any possible information about former ADV properties.