Date: 2022 November 03 00:28
Posted by Eeeper
Kadokawa Corporation, Japanese media conglomerate, announces the purchase of Anime News Network's media business, via their US holding company, Kadokawa World Entertainment.
Kadokawa Corporation, one of the largest publishers of manga and film in Japan, has acquired the American news and media company Anime News Network via its own American subsidiary Kadokawa World Entertainment. No financial details were disclosed but is not expected to impact on the earnings for the group for the year. The publisher of ANN, Christopher Mcdonald has issued a statement on the ANN site stating that while the company was being sold to Kadokawa, the editorial integrity of the site would be contractually upheld by the new owners.
Press release follows:
KADOKAWA Announces Acquisition of Anime News Network's Media Business
KADOKAWA CORPORATION (Headquarters: Chiyoda-ku, Tokyo; President and Member of the Board: Takeshi Natsuno; hereinafter "KADOKAWA") announced today that the company has reached an agreement with Anime News Network Inc. (Headquarters: Quebec Province, Canada, President: Christopher Macdonald, hereinafter "ANN") with respect to KADOKAWA's majority acquisition of ANN's media business.
Founded in 1998, ANN engages in the media business focused on distribution of the latest news concerning Japanese anime, manga, light novels and other entertainment content to its English-speaking market userbase in North America and other parts of the world. ANN also operates a content database and community forums for its users to interact on its website and has established its position as one of the largest platforms specialized in its field in North America.
Our decision to proceed with the acquisition is intended to further strengthen KADOKAWA's global marketing efforts relating to the digital and physical products handled by BOOK☆WALKER Co., Ltd. (Headquarters: Tokyo) which operates an English online ebook store (BOOK WALKER Global), YEN PRESS, LLC (Headquarters: New York, hereinafter "YP") which engages in the comprehensive English publication of manga and light novels, etc. in North America, and J-Novel Club LLC (Headquarters: Texas) which engages in the English e-book publication of Japanese light novels and the operation of a digital subscription service platform among others in the English- speaking market. The transaction is contemplated to be pursued through the acquisition by a newly established company under KADOKAWA's US holding company KADOKAWA WORLD ENTERTAINMENT, INC. (Headquarters: Delaware, hereinafter "KWE") of all of the related business assets from ANN, scheduled to be completed by the end of the year. The transaction, its value is not disclosed, would have no material impact on KADOKAWA's consolidated business results. Following the completion of the transaction, we intend to further expand of all of the group's businesses in the English-speaking market by strengthening collaboration in promotion and other areas among each of the group's aforementioned businesses.
Christopher Macdonald, President of ANN (To be appointed as the Publisher of the new company), says: "I am excited by this opportunity to work with Kadokawa and Kadokawa World Entertainment to dramatically improve Anime News Network during the course of the coming years. Myself and all of ANN's staff remain entirely dedicated to the standards of professional, exhaustive, and editorially independent journalism that ANN is already known for and we believe that Kadokawa's resources will be a great benefit to ANN's journalism and our readers."
Kurt Hassler, Chief Executive Officer of KWE and Managing Director and Publisher of YP, says: "For over twenty years, ANN has distinguished itself by providing a window of news and information about Japanese content and establishing a community where fans can interact and share their enthusiasm. This acquisition represents an opportunity not only for KADOKAWA to better and more effectively highlight its own content but to enhance ANN's mission to grow the global audience for manga and anime as a whole while expanding the boundaries of what the site can offer users."