Kadokawa announced today its acquisition of Anime News Network, which is meant to “further strengthen KADOKAWA’s global marketing efforts relating to the digital and physical products handled by” BookWalker (which has an English ebook store called BookWalker Global), Yen Press, and J-Novel Club.
Kadokawa is acquiring ANN through its US-based subsidiary Kadokawa World Entertainment. A new company, of which ANN president Christopher Macdonald will be publisher of, is being set up to operate the news outlet.
Kadokawa’s press release also revealed the publishing giant’s plans to “further expand of all of the group’s businesses in the English-speaking market” after the acquisition. It says that it will achieve this by improving collaboration with the aforementioned publishing businesses in areas like promotion.
KWE CEO Kurt Hassler, who is the managing director and publisher of Yen Press as well, said in a statement that the acquisition “represents an opportunity not only for KADOKAWA to better and more effectively highlight its own content but to enhance ANN’s mission to grow the global audience for manga and anime as a whole while expanding the boundaries of what the site can offer users.”
In a separate article, Macdonald wrote that the news outlet’s editorial independence was “contractually guaranteed,” and that Kadokawa saw both the news outlet’s editorial “integrity and independence” and the maintaining of its team roster as priorities. He also wrote that KWE will invest “significantly” in ANN’s software development as part of the acquisition, and that there will be both new project launches and the resumption of projects that were in development.
Macdonald added that he will remain as a minority shareholder in the new company along with Bandai Namco Filmworks.
The transaction value of the acquisition was not revealed, but was noted to “have no material impact on KADOKAWA‘s consolidated business results.”
Source: Anime News Network