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More on the ADV Situation: Don't Panic! PDF Print E-mail
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Thursday, 31 January 2008 03:49

Don't Panic!Following on from ADV's statement yesterday, there are more details sneaking out about what's going on behind the scenes - although as ADV aren't confirming anything, take it as you will. But the issue seems to be that Sojitz, the Japanese investment company who took a stake in ADV a while back in exchange for a cash injection, looks to have taken fright at the state of the R1 market and is trying to get out. Ordinarily, that wouldn't be a fatal problem - but the terms of the investment have seen a lot of ADV's current catalog licensed not to ADV themselves, but to a holding company owned by Sojitz and Klockworx, meaning that if Sojitz pulls out it takes the licenses to a large chunk of ADV's catalog with them. That would, of course, be disastrous for the company - and explains why so many titles were removed from the ADV website recently. They can't promote, stream or sell what they no longer have the rights to.

So now we're waiting on the behind-the-scenes negotiations to complete. If Sojitz are truly trying to get out, they'll be wanting to do so on the best possible terms. For ADV, the priority will be to regain control of as many of their catalog titles as possible - and securing the funding needed to do that. There won't be any news either way until that process is complete. In the meantime... don't panic!

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