“Funtastic Limited“, the “current” owners of the Australian anime distributor “Madman Entertainment“, have only recently announced that they plan on selling the anime distributor on the grounds that, while Madman is worth quite a lot of money, it’s overall annual earnings over the past two years have dropped by an estimated $2 million AUD. The owning company were recently made two offers for the purchase of “Madman”, as they weighed up the two offers they realised that the distributor could be sold for double the amount of its market value, any businessman would know that it means this is a pretty good time to sell.
With its carrying value well above its market value and its decreased annual earnings “Funtastic Limited” doesn’t exactly see any good reason to hold on to “Madman” so they have appointed “Canterbury Partners” to sell the distributor. “Madman Entertainment” was originally acquired by “Funtastic Limited” back in 2006, they paid $34.5 million AUD. This was done so that “Funtastic” could easily acquire the media rights for the same properties that they had already gained toy right for. It was one hell of a smart move back then but is selling the distributor now going to be as lucrative in the long run? “Madman Entertainment” nor any of its representatives have yet to make a statement regarding the sell but as soon as they do you can bet we’ll have it here on the site so keep your eyes out for that if and when it comes.
Source: NineMSN
