ADV is dead, long live ADV!

Another one bites the dust…  or does it???

At first blush, the recent announcement that ADV Films is shutting its doors, sounds dire indeed.  All across the Intarwebs there has been the expected wailing and gnashing of teeth among anime fans, and comparisons to other grisly anime company implosions such as Geneon and Central Park Media.

But let’s take a deeper look at things…

According to ADV’s press release, they recently concluded a flurry of transfers of various bits of ADV’s business to other companies: AEsir Holdings, LLC (“Aesir”) acquired a “subordinated interest” in selected bits of ADV’s film library, along with various intellectual properties; while SXION 23, LLC, dba “Section23 Films,” a home video distribution company, will apparently take over distribution of DVDs and other physical media; and Valkyrie Media Partners, LLC (“Valkyrie”) has acquired ADV’s Anime Network television channel. Seraphim Studios, LLC acquired Amusement Park Media, the production unit of A.D.Vision, Inc. And Sentai Filmworks also has assumed distribution of some of ADV’s titles recently as well. In their press release, ADV promises that these acquisitions and transactions will result in a “seamless delivery of home video products and television programming to customers.”

But who owns these companies?  (“Follow the money…”)  When you look at it this way, things get… interesting.

You see, Seraphim Studios, Valkyrie Media Partners and SXION 23 are all owned by the same guy – Griffin D. Vance IV, who was ADV’s senior vice president of business and legal affairs.  And, according to word on the street, most of ADV’s employees have been hired on by these various businesses.  (With the noticeable absence of ADV President John Ledford, interestingly enough…)

Clever financial reorganization?  Upper echelon power struggle?  Sneaky plot to oust the CEO?  Who knows?  Whatever the case may be, many people on the Intarwebs are calling this “ADV 2.0″ (as for me, I’m calling it “ADV: Death and Rebirth“) and are reaffirming ADV’s own statement that these acquisitions and business transfers shouldn’t affect the “seamless delivery of home video products and television programming to customers.”

We do indeed live in… interesting… times.  (in the Chinese proverb sense of the word!)

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