Archive for April, 2011

King of Eden Giveaway

UPDATE: And our winners are…

1 prize of: Awais Chughtai of Hamilton, Ontario

· Ultra rare navy blue Noblesse Oblige premium button down worker shirt (size L)
· Eden of the East Selecao window decal
· Eden of the East AIR KING key chains in blue and yellow
· Eden of the East, the complete series on DVD
· Eden of the East- The King of Eden 5” X 7” art card

2 prizes of: Thomas Billings of Albuquerque, New Mexico & Katie Pierce of Glassboro, New Jersey
· Rare Eden of the East long-sleeved AIR KING shirt (size XL)
· Eden of the East AIR KING key chains in blue and yellow
· Eden of the East- The King of Eden 5” X 7” art card

2 prizes of: Mark Conner of Norfolk, Virginia & Jessica Santibanez of Fountain, Colorado

· Eden of the East AIR KING T-shirt (size L)
· Eden of the East AIR KING key chains in blue and yellow
· Eden of the East- The King of Eden 5” X 7” art card

Congrats to y’all! Enjoy!

Everyone likes free stuff. Just fill out the form below for your chance to win. That way when you walk in to your local anime retailer to pick up the Eden of the East: The King of Eden movie onApril 26th, you’ll look snazzy with your EoE shirt. And when the clerk asks you where you got it, you can tell him it’s from your friends at FUNimation. That’s right. You know people.


Don’t know about The King of Eden yet? Watch some clips and trailers below.


About Eden of the East- The King of Eden:

The intrigue goes international in The King of Eden, a feature-length conspiracy thriller that continues the action of the acclaimed Eden of the East. The deadly game that began in Japan now intensifies on the streets of New York City. The rules are the same: Do whatever it takes to win. Die if you lose.

Takizawa prevented Japan’s destruction – and then he vanished. Six months later, clues lead Saki to the Big Apple in search of her missing friend. Meanwhile, the remaining Seleção are plotting their final move. Some of them would prefer Takizawa dead and out of the way. Some might even be willing to help him achieve his goals. Unfortunately, some are prepared to destroy everything if it means claiming checkmate in Mr.Outside’s puzzling game.

FUNimation Channel Update – Now Available on iO TV in the NY Metro Area!

Hey folks! In case you haven’t read or heard, FUNimation Channel has expanded its On Demand service to iO TV in the New York Metropolitan area. Remember when we had those petition cards at conventions? It paid off! Where can you find it on iO TV? Follow these simple steps:

  • Tune to Channel 500
  • Go to Movies On Demand
  • Look for FUNimation Anime

You will find titles such as Rin~Daughters of MnemosyneBlack Butler HDEden of the East HD,Evangelion 1.11 movieSekireiGoemon movie HDHetalia HD. This is a limited time offer so check out these shows and let friends, family, co-workers know that we are on iO TV. Episodes are available at $.95 each while movies are $2.95. Cablevision is testing to see how receptive their customers are to FUNimation Channel’s offering. So it’s really important for viewers and anime fans to participate and help us become a permanent fixture on iO TV.

As always, you can follow FUNimation Channel on Twitter and Facebook to stay on top of channel-related news.

FUNimation Has Big News!

As of this afternoon, FUNimation Entertainment is owned by an investment group led by founder, president and CEO Gen Fukunaga.

This is a momentous day and we are excited about our new partners. They share our vision and will help us develop what will be the future of FUNimation. This future also includes the Navarre Corporation as they will continue to distribute our product and we look forward to working with them for years to come.

Operations will go on as normal and we will keep bringing you the best in anime and asian film!

The press release follows below.

Navarre Corporation Announces Sale of FUNimation Entertainment
Company Advances on Strategic Initiatives and Affirms Debt-Free Status at March 31, 2011

MINNEAPOLIS, Apr 4, 2011 (GlobeNewswire via COMTEX) — Navarre Corporation (Nasdaq:NAVR) today announced that it has sold FUNimation Entertainment for $24 million in an all cash transaction. Purchasers in the transaction are a group of entities that were newly formed by an investment group that includes Gen Fukunaga, FUNimation Entertainment’s chief executive officer, as a minority stakeholder. In connection with the sale, the Company has entered into an agreement to act as FUNimation Entertainment’s exclusive distributor in the United States on a continuing basis, and will also act as FUNimation Entertainment’s logistics and fulfillment services provider.

The transaction is a major step forward in the Company’s ongoing strategy to focus on the expansion of revenue in the distribution of new product lines, further develop the breadth of its value added services, and continue to grow its direct to consumer fulfillment services. This strategy has already resulted in a significant reduction to debt and has improved operating margins by leveraging the Company’s significant distribution and logistics expertise and considerable systems and physical assets.

“We ended fiscal 2011 debt free, prior to our receipt of the proceeds from this transaction,” said Cary L. Deacon, chief executive officer of Navarre Corporation. “With the strength of our balance sheet, Navarre will be able to deploy the funds generated from the sale of FUNimation to build or acquire new businesses and services to diversify our revenue streams that will support our long-term objectives. We will be actively seeking expansion opportunities in the distribution and online/web services area to support our direct to consumer strategies.

“We are energized by the progress we have made, and feel we are now positioned to build our businesses and services offering to support our long-term objectives and increase shareholder value,” continued Deacon.

Earlier this year, the Company had detailed the strategies that support its long-term objectives. Going forward, Navarre’s strategic initiatives include:
– Leveraging its state-of-the-art systems and logistics capabilities;
– Continuing to expand its products and services beyond digitally
downloadable goods;
– Providing back-end logistics solutions and fulfillment capabilities to
customers and clients;
– Expanding its direct-to-consumer fulfillment business;
– Enhancing the business development team to support acquiring new
services and product lines; and
– Continuing to grow the Canadian business through expanding relationships
with key Canadian retailers.

“This transaction ends a comprehensive sales process undertaken over the last year. As previously discussed, FUNimation’s future strategies and associated risks to execute them are not in line with Navarre’s strategic direction,” said Reid Porter, chief operating officer of Navarre Corporation. “Most importantly, this sale allows us to now provide even greater focus on executing against our long-term strategic objectives.”

The Company anticipates that its financial results for the fourth quarter of fiscal year 2011 will be impacted by a non-cash impairment charge resulting from a reduction in the carrying value of FUNimation’s net assets, as well as a pre-tax loss upon the sale of FUNimation. The exact amount of the impairment charge and the loss resulting from the sale of FUNimation will be determined in connection with preparing the Company’s financial statements for the 2011 fiscal year end but is currently estimated to be approximately $11 million.

As part of the sale, Navarre will remain the exclusive distributor of FUNimation products in the United States. As exclusive distributor, Navarre will leverage its more than 25-year history as a leading distributor for computer software, home entertainment media, consumer electronics and accessories. More information on the sale of FUNimation, as well as updates on the Company’s new strategic priorities, will be available in Navarre’s fiscal 2011 fourth-quarter and full-year earnings release on June 7, 2011, and subsequent conference call on June 8, 2011. Details regarding that earnings release will be provided shortly. In addition, the Company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission describes the FUNimation sale.