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