ADV-Geneon Deal Cancelled

ANN reports that the previously mentioned ADV Films-Geneon deal in which ADV would market and sell all of Geneon's current holdings, has been officially cancelled by the two American anime companies. Geneon reportedly laid off much of its marketing department in preparation for ADV taking over that department. Now many are left jobless while Geneon remains unsure of its future plans to market its anime. This quick turnaround could prove very dangerous for the financial future of Geneon, one of the biggest names in the American anime market.
[via Anime News Network]