Sayonara, ADV Films!

Another company is gone and this time the one that was less expected to fall, is just gone as We know it…We are talking about ADV Films! It was one of the first companies that brought Anime to the scene here at this other side of the Pacific.  Of course, it is not completely vanished as some people may think.

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.Source: ADV Films

The only thing I see is that the name itself and the company We know exists, no more, but their assets and other properties just transferred to other companies to continue the legacy.

My beloved VHS collection…As you can see, almost all of them are from ADV! (Except IRIA)

I must admit that ADV Films delivered many anime titles I like and I still own on DVD and VHS.  Some of the titles I have are Mamono Hunter Yohko, Gunsmith Cats, Nuku Nuku, Airbats, just to name a few.

Let´s see what this other companies will deliver in the future. Meanwhile, I have two questions that are still unanswered…What was the meaning behind the ADV letters and What will happen with the Evangelion Live Action Movie? Hope We can know the answers someday.

P.S. There are many “Sayonara” posts lately here…”Hasta la Vista Baby” sounds better this time…

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