While browsing around AnimeNewsNetwork, I ran across an article about US anime distributor A.D.Vision in their front page headlines.
If you're too lazy to read the full article and those related to that articles, I'll sum it up for you real quick here (This is merely my understanding of the situation, don't quote me on anything I said here as reliable reference, it could be completely wrong):
In 2007 A.D.Vision (parent company of ADV Films) went into partnership with Japanese company. A year later, the partnership broke-up, and A.D.Vision got the short end of the stick, causing most of the licensed titles acquired by A.D.Vision during 2007 such as Air, Kanon, Tokyo Majin to be transferred to Funimation, which triggered an inventory clearance sale for many anime retailers (which I personally took advantage of, sales! yeah...).
The Bigger problem is that once A.D.Vision's partner from that deal are now hostile towards them but still holds significant amount of stakes of the company. The company's future seems doomed. However, through some clever business maneuver, it seems that the founder and owner of A.D.Vision managed to transfer all the asset of ADV Films out of the hostile environment to new business entities that many suspect are made up of original A.D.Vision's owner and management.
So, that's the short summary about the story of ADV Films. Again, this is only my understanding of collected rumors and facts, I could be completely wrong about it.
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