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D-Rights Acquires 34% Stake in Geneon Entertainment

Geneon Entertainment will become a joint venture between parent company Dentsu and Mitsubishi Corporation subsidiary d-rights, a press release announced this morning. As part of the deal, d-rights will acquire a 34% equity stake in the company from Dentsu.

Dentsu, Geneon, and d-rights will also establish a ¥2 billion fund to invest in 15 to 20 anime works per year. Dentsu is contributing 30% of the fund, Geneon 20%, and d-rights 50%. The fund will first be used to promote Production I.G's Guardian of the Sacred Spirit internationally in 2007.

The deals are part of a new strategic alliance between Dentsu and Mitsubishi to produce and sell anime. From the press release: "Dentsu brings to this partnership significant capabilities in content and creative production in Japan, while Mitsubishi Corporation has built a strong track record in the export of Japanese animated works, particularly focusing on children's animation."

The release also notes a significant focus on developing "works for use in such new media as the Internet and mobile devices" through Geneon and the new investment fund.