Media Blasters in financial trouble with New York State


Things have been a little fishy with Media Blasters lately. They had to cancel the rerelease of Record of Lodoss War, and they didn't get the license for Queen's Blade Rebellion like they did with the previous series. Right Stuf also recently reported that several releases have been delayed, unlike a few other releases that were outright suspended. Oh, and there was that time when 60% of their staff was laid off or rehired as freelancers.

According to ANN, Media Blasters was officially dissolved by proclamation as of April 27, 2011, with New York State Department of State listing them as an inactive company. "Dissolved by proclamation" basically means that some franchise tax reports or tax payments were not filed for two consecutive years, allowing the Secretary of State to dissolve the company. If this happens, the company cannot use its name legally and can only perform business to finish its affairs.

But it seems like Media Blasters might not actually have gone under. Just last week, the company commented on their Facebook page that they are "Still here, still selling anime. Yeah, sentai got QB but we will be getting out Fushigi Yugi soon. Hard to survive in this new anime world." In response to ANN's article, Media Blasters responded on Facebook with the following statement.

Explanation of ANN story.

For all concerned about the ANN story, MB is not out of business or closing down its operation. What happen was the following. MB filed extensions for 2009, 10 and 11. Without notice or us knowing it could happen, the Secretary of State took action. We have now finished our 2009, 2010 and filing and will get the action reversed. We already spoke with them. The company continues to run, continues to release titles. It seems during the last TAF, our competitors decided to spread this paper around which has made life difficult.

As for the article in ANN, they never contacted us nor even gave us a chance to comment.

From the looks of it, Media Blasters is currently a little unorganized, trying to get their house in order. It sounds like they just have some messy book-keeping to sort out, maybe a little management that needs reorganizing. This is supported by the fact that Media Blasters claims ANN didn't give them a chance to comment, when ANN states that they sent Media Blasters four voice mails and two emails with plenty of time to respond. The forum thread associated with ANN's news post features CEO John Sirabella getting very upset and adamantly stating that ANN did not attempt to contact him.

Whatever the case may be, Media Blasters looks like they're struggling. It's a difficult time to be in the anime business, and I'd hate to see another company go under, especially one that's been around since 1997. Here's hoping they stay on track with their current releases and fully sort out the issue with the NY Department of State.

[Via ANN]

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Bob Muir
Bob MuirContributor   gamer profile

Bob has been hanging around ModernMethod for years and and somehow writes almost everywhere, including Destructoid and Flixist. He was once lit on fire, but it's not as cool as you'd think. more + disclosures


Filed under... #anime #Despair! #legal mumbo jumbo #media blasters



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