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Geneon's Fall a Positive for FUNimation?

Navarre Stock Punished

Published: 11/08/2007 12:00am

Navarre CEO Kerry Deacon, who held a conference call today to discuss the company's most recently quarterly earnings report (see 'FUNimation Sales Down, But on Budget'), discussed the impact of Geneon's recent collapse (see 'Dentsu Eats $40 Million') on its FUNimation division.     '[G]enerally we believe it could be positive to our position in the marketplace, both from a sales and a content acquisition basis,' he said of the events. 

 

Deacon noted that Geneon had some 'very strong content such as Sailor Moon, Van Helsing, and Black Lagoon, whose futures are unknown.'

 

Meanwhile, the Navarre stock was punished by traders on Thursday, with a 40% decline in value in the trading day.  Investors were expressing their displeasure at the weaker than expected earnings and a decline in forecast in the most recent report. 

 
 
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