ADV Films announced that they concluded a series of three asset transactions.

In the first transaction, ADV sold the rights to an unspecified number of titles to AEsir Holdings, LLC. Through the agreement, AEsir will assume all responsibilities and liabilities of the acquired licenses, in accordance with the original agreements with Japanese licensors. In a concurrent deal, SXION 23, LLC, under the name Section 23 Films, will handle distribution and account services of the licenses AEsir acquired.

In the second transaction, between ADV and Valkyrie Media Partners LLC, Valkyrie purchased a 100% stake in The Anime Network. In the third transaction, Amusement Park Media, ADV's production arm, will be purchased by Seraphim Studios, LLC.

According to Anime News Network, ADV Films is also shutting down, and several staffers have transferred to the purchasing companies.

ADV Films was founded in 1992 by Matt Greenfield and David Williams. The company's first release was Devil Hunter Yohko. ADV was the second major anime company to begin business in America, and one of the most powerful forces during the anime bubble.