FUNimation 100% Bought out by Navarre Corporation!

[amanz]

Well look what I just found at the Anime News Network:

Navarre Corporation, a publisher and distributor of software and home entertainment products, has signed an agreement to acquire 100% of both FUNimation Productions, Ltd, and the FUNimation Store, Ltd.

FUNimation partnership interests were bought at a price of approximately $100,500,000 in cash, as well as a large issuance of Navarre common stock (Nasdaq: NAVR). In total the deal is worth between $127 million and $150 million.

The transaction has yet to be closed, but will do so once customary conditions are met, including the expectation that Navarre has the proper funds to finish the deal.

Check it out here:Anime News Network

[BlackCoven]

Interesting, ps, where you been lately?? Work again?

[DbzGokussj4]

so this means we will have dbz on TV. or something like that. and do you know if funi is going to get there chanell they sad they will but when.



and here is more info about this i didnt get to read i have to sleep.

Navarre Inc. Agrees to Purchase FUNimation
anounced on 2005-01-10
--------------------------------------------------------------------------------
NAVARRE AGREES TO ACQUIRE FUNIMATION, A LEADING PROVIDER AND LICENSOR OF ANIME AND CHILDREN’S ENTERTAINMENT

FUNimation's content holds appeal for home video, video game,

TV broadcast, toy, and other marketplaces

Minneapolis, MN – January 10, 2005 – Navarre Corporation (NASDAQ: NAVR) a leading publisher and distributor of a broad range of home entertainment and multimedia software products, announced that it has executed a definitive agreement to acquire 100% of the general and limited partnership interests in FUNimation Productions, Ltd. and The FUNimation Store, Ltd. Navarre anticipates that this transaction will close before May 15, 2005.

FUNimation, based in Fort Worth, Texas, is a leading home video distributor and licensor of Japanese animation and children’s entertainment in the United States providing titles that include Dragonball Z, Dragonball GT, Yu Yu Hakusho, Case Closed and Fullmetal Alchemist. In addition to the home video distribution of its proprietary content, FUNimation engages in third-party marketing, sales and distribution agreements with content providers, including 4Kids Entertainment Inc., Nelvana, Alliance Atlantis and WGBH. FUNimation also acquires master licenses to properties through long-term arrangements and leverages this proprietary content into various revenue streams including television broadcast, VHS and DVD home videos, toys, video games, and trading cards. For the years ended December 31, 2001, 2002 and 2003, FUNimation had net sales of $49.8 million, $63.7 million and $81.6 million, respectively, and pre-tax net income of $20.0 million, $24.9 million and $30.5 million, respectively.

Navarre is acquiring the FUNimation partnership interests for a payment at closing by Navarre of approximately $100,500,000 in cash, plus its issuance of between 1,495,216 and 1,827,486 shares of Navarre common stock. These shares of Navarre common stock will be unregistered, but they will be subject to certain registration rights. Additionally, the sellers could receive up to $17,000,000 in cash to be paid over five years if FUNimation achieves certain agreed-upon financial targets during that time period. The closing of the transaction is subject to the satisfaction of customary conditions including a requirement that Navarre shall have obtained financing sufficient to enable Navarre to consummate the transaction.

Eric Paulson, Chairman and CEO of Navarre stated, “The completion of the FUNimation acquisition will be a continuation of the transformation of our company as it reflects the ongoing execution of our strategy to utilize the strong underlying asset of our distribution business to support and assist in the growth of our higher margin publishing business.” Paulson continued, “FUNimation will bring new business skills of international licensing and brand development. With the signing of this agreement, we look forward to welcoming FUNimation to the portfolio of companies in our Publishing segment.”

“We are extremely excited to join the Navarre family of companies,” said Gen Fukunaga, president of FUNimation Productions, Ltd. “Utilizing Navarre’s capital structure and distribution efficiencies will aid FUNimation in its ongoing business.”

Cary Deacon, Navarre’s Chief Operating Officer of Publishing and Licensing commented, “The FUNimation acquisition is consistent with our overall business strategy and will significantly increase our publishing offerings, establishes long-term relationships with new vendors and customers, and solidify our position as a premier provider of published and licensed home entertainment products. We believe in FUNimation’s business model and its brand management success in anime and children’s entertainment, licensing, and home video industries. As well, FUNimation brings a strong management team that will bolster our overall group.”

Bear Stearns & Co. Inc. acted as financial advisor to Navarre Corporation in connection with the transaction, and A.G. Edwards & Sons, Inc. acted as financial advisor to FUNimation.

[DbzGokussj4]

i have to double post because everything couldnt fit.


About Navarre

Navarre Corporation (NASDAQ: NAVR) provides distribution and related services to leading developers and retailers of home entertainment content. The company operates under two business divisions; Distribution Services which includes PC software, video games, CD audio and DVD video; Publishing which includes Encore. Based in Los Angeles, CA, Encore is a majority-owned subsidiary of Navarre and a leading interactive publisher in the PC CD-ROM market. As a result of strategic relationships, the company publishes PC titles or compilations in major software categories from productivity to education. BCI Eclipse, a wholly-owned subsidiary of Navarre Corporation, provides niche DVD video and audio products. Navarre’s client-specific delivery systems allow its product lines to be seamlessly distributed to over 18,000 retail locations throughout North America. The Company provides such value-added services as inventory management, Web-based ordering, fulfillment and marketing and EDI customer and vendor interface. Since its founding in 1983, Navarre has built a base of distribution partnerships with a broad base of leading retailers across the mass merchant, music, computer and office specialty, wholesale club and military PX channels, as well as software content developers from all categories of the industry and independent record labels encompassing all musical genres. For more information, please visit the Company’s Web sites at www.navarre.com.



About FUNimation

FUNimation is a leading independent licensee, licensor and home video/DVD distributor and brand manager of Japanese animation and children’s entertainment in the United States. FUNimation acquires animated properties from Japanese rights holders and translates and adapts the content into television programming and home video/DVD, primarily targeting persons between the ages of 6 and 17.

Additionally, FUNimation has collaborative business partnerships with independent entertainment companies such as 4Kids Entertainment, Nelvana, Alliance Atlantis, WGBH and Moonscoop which involve some or all aspects of home video distribution, sales, marketing and merchandise licensing.

FUNimation leverages its content portfolio into revenue streams including television broadcast, DVD and VHS home videos, video games, toys, trading and collectible cards and apparel.

FUNimation’s brands include Dragon Ball Z, Fullmetal Alchemist, Yu-Gi-Oh!, Code Lyoko, Teenage Mutant Ninja Turtles, Arthur, Case Closed, Yu Yu Hakusho, Beyblade and Cabbage Patch Kids.



Safe Harbor



“The statements in this press release that are not strictly historical are “forward looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbors created by these sections. The forward-looking statements are subject to risks and uncertainties and the actual results that the Company achieves may differ materially from these forward-looking statements due to such risks and uncertainties, including, but not limited to: the Company’s dependence upon a key employee and its Founder, namely, Eric H. Paulson, Chairman of the Board, President and Chief Executive Officer, the Company’s dependence upon a limited number of large customers that account for a significant part of its business, seasonality in its business and the fact that a large portion of the Company’s revenues have traditionally been related to the holiday selling season, the Company’s dependence on significant vendors, the Company’s dependence on financing its significant working capital needs, the Company’s dependence upon software developers and manufacturers, the Company’s ability to maintain and grow its exclusive distribution business through agreements with recording artists, potentially changing retail consumer buying patterns in the PC software market, the Company’s ability to avoid inventory return and obsolescence losses, the acquisition strategy of the Company could disrupt other business segments and/or management, tougher competition and/or new and different competition in the Company’s traditional and new markets including through different means of distribution, technological innovation in the electronic downloading of music, increased counterfeiting or low or no cost downloading could impact product sales, uncertain growth in the publishing segment, the Company’s dependence on information systems, the Company’s credit exposure due to reseller arrangements, the potential for future terrorist activities to disrupt operations or harm assets, the Company’s dependence on third-party shipping of its product, significant Company stock volatility, and the Company’s anti-takeover provision may discourage take-over attempts beneficial to shareholders. A detailed statement of risks and uncertainties is contained in the Company’s reports to the Securities and Exchange Commission, including in particular the Company’s Form 10-K for the year ended March 31, 2004. Investors and shareholders are urged to read this document carefully. The Company can offer no assurances that any projections, assumptions or forecasts made or discussed in this release, “NAVARRE AGREES TO ACQUIRE FUNIMATION, A LEADING PROVIDER AND LICENSOR OF ANIME AND CHILDREN’S ENTERTAINMENT”, dated January 10, 2005, will be met, and investors should understand the risks of investing solely due to such projections. The Company undertakes no obligation to revise any forward- looking statements in order to reflect events or circumstances that may arise after the date of this press release.

Investors and shareholders may obtain free copies of the public filings through the website maintained by the SEC at www.sec.gov or at one of the SEC’s other public reference rooms in New York, New York or Chicago, Illinois. Please call the SEC at 1-800-SEC-0330 for further information with respect to the SEC’s public reference rooms. Free copies of these documents may be obtained by contacting Kathy Conlin at 763-535-8333

[amanz]

Well I do remember them talking about a Funi Channel but now that this has happened who really knows what’s going to happen anymore.

And BlackCoven I've been doing a lot of work but I've had the last 2 weeks off (A lot of the auto plants have a period of shut down this time of the year for the holidays and this year its 3 weeks of Shut down so I have another week off still).
I've been busy because I'm on the Anime Central (Anime Convention in Chicago) Staff I'm part of the Security team (I get into the con for free get a free hotel room and free food…and a cool staff shirt). So last Saturday I was down in Chicago for that and I've been spending a lot of time with my friends so I haven't been able to really get on. I should be on a lot more this week though.

[Son Goshin]

amanz said:

Well I do remember them talking about a Funi Channel but now that this has happened who really knows what’s going to happen anymore.

And BlackCoven I've been doing a lot of work but I've had the last 2 weeks off (A lot of the auto plants have a period of shut down this time of the year for the holidays and this year its 3 weeks of Shut down so I have another week off still).
I've been busy because I'm on the Anime Central (Anime Convention in Chicago) Staff I'm part of the Security team (I get into the con for free get a free hotel room and free food…and a cool staff shirt). So last Saturday I was down in Chicago for that and I've been spending a lot of time with my friends so I haven't been able to really get on. I should be on a lot more this week though.

wait a sec. there's an anime convention in chicago? how come i didn't hear about that? it hasn't happened yet has it? if it has when does it, because i've been dying to go to one of them

[DbzGokussj4]

well i gess you better hury. i would go but i dont have car. i drive but i need car and i should get one soon.

[amanz]

Son said:

wait a sec. there's an anime convention in chicago? how come i didn't hear about that? it hasn't happened yet has it? if it has when does it, because i've been dying to go to one of them

O ya there is here is a link to its site: Anime Central
Its one of the biggest cons in the Midwest. There expecting 10,000 people to be there this year. If you go maybe I’ll see you there…I’ll be in one of the cool orange SecDiv shirts LOL. ;D

P.S. You still have time if you want to go to the convention here is some info for you.
May 13-15, 2005
Hyatt Regency O'Hare and the Donald E. Stephens Convention Center
Rosemont, IL

[Rurouni Kenshin]

Thats really intresting.

[Son Goshin]

amanz said:

O ya there is here is a link to its site: Anime Central
Its one of the biggest cons in the Midwest. There expecting 10,000 people to be there this year. If you go maybe I’ll see you there…I’ll be in one of the cool orange SecDiv shirts LOL. ;D

P.S. You still have time if you want to go to the convention here is some info for you.
May 13-15, 2005
Hyatt Regency O'Hare and the Donald E. Stephens Convention Center
Rosemont, IL

sweet, thanks a lot dude! ;D

[Trunksangel79]

That's interesting. Thanks for the info!

[Majin Gogeta]

amanz said:

Well look what I just found at the Anime News Network:

Navarre Corporation, a publisher and distributor of software and home entertainment products, has signed an agreement to acquire 100% of both FUNimation Productions, Ltd, and the FUNimation Store, Ltd.

FUNimation partnership interests were bought at a price of approximately $100,500,000 in cash, as well as a large issuance of Navarre common stock (Nasdaq: NAVR). In total the deal is worth between $127 million and $150 million.

The transaction has yet to be closed, but will do so once customary conditions are met, including the expectation that Navarre has the proper funds to finish the deal.

Check it out here:Anime News Network

so does this mean FUNi won't be dubbing anymore??

[amanz]

I'm not sure what it means yet...I don't really have a clue what is going to happen now all they've said is that they've bought Funi and that’s it...sorry I couldn't answer your question any better.