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FUNimation Sold Back to Its Original Owner

Navarre Corporation has formally announced its $24 million dollar cash sale of FUNimation to a group of investors that includes Funimation’s founder and chief executive officer Gen Fukunaga, John A. Kuelbs, Doug Deason, and billionaire Darwin Deason. Gen Fukunaga was a part owner of FUNimation in 2005 when Navarre bought the company for a stock-price adjusted $114 million, after an initial offer of $142 million. FUNimation’s 2010 fiscal year net sales have been estimated at $35 million with a pre-tax income of $10 million. Navarre will continue to serve as FUNimation’s distributor and logistics and fulfillment services provider.

Source: Anime News Network

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This entry was posted on Tuesday, April 5th, 2011 at 10:58 pm and is filed under Anime News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “FUNimation Sold Back to Its Original Owner”

  1. FUNimation sold back to its original owner | Blog | Rekuru Says:
    April 6th, 2011 at 2:01 pm

    [...] Source [...]

  2. Aaron H. Bynum Says:
    April 6th, 2011 at 6:25 pm

    Easy as pie. I wish I had $24 million to throw at something and still make money on it due to the poor market observation of its previous owners.

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