By Ishaan . May 29, 2010 . 8:09am
The Navarre Corporation, present owners of Funimation Entertainment, recently announced that they have hired the services of investment bank Houlihan Lokey, to help negotiate and facilitate a sale of the anime publisher, according to a report at MarketWatch.
While Funimation revenue has met expectations financially, Navarre CEO, Cary L. Deacon, prefers that his company focus on its software publishing and distribution business. It’s worth noting, however, that Deacon also has Funimation’s best interests at heart. Funimation, he revealed, hope to grow through “co-productions of original anime content, social networks and digital broadcasting,” and Deacon believes this goal can be better achieved under a new owner with expertise in those fields.
Navarre plan to announce Funimation as a discontinued operation at the start of their first quarter for fiscal year 2011.