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4Kids Files Bankruptcy
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27 / M / Glendale, AZ
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Posted 4/6/11
From http://finance.yahoo.com/news/4Kids-Entertainment-Files-for-bw-277838303.html?x=0&.v=1:

"NEW YORK--(BUSINESS WIRE)-- 4Kids Entertainment, Inc. (Pink Sheets:KIDE.pk - News), the global children’s entertainment and merchandise licensing company, announced today that it has filed a petition in bankruptcy for relief under Chapter 11 of the U.S. Bankruptcy Code. The bankruptcy filing in the U.S. Bankruptcy Court for the Southern District of New York also covers all of the domestic wholly-owned 4Kids subsidiaries. 4Kids Entertainment International, Ltd., the Company’s subsidiary based in London England, is not part of the bankruptcy filing.

In conjunction with the Chapter 11 filing, 4Kids also filed a variety of first day motions that will allow the Company to continue to manage operations in the ordinary course.

"We want to assure our clients, business partners and licensees that during the pendency of the bankruptcy, 4Kids will continue to provide the same level of service and dedication that it has in the past," said Michael Goldstein, interim Chairman of 4Kids Entertainment, Inc. "The Company will also continue to explore its strategic alternatives, including, the possible sale of the business or reorganization as a stronger and more focused company,".

The 4Kids bankruptcy filing automatically “stays” the lawsuit filed by the licensors of the Yu-Gi-Oh! property, Asatsu-DK Inc (“ADK”) and TV Tokyo Corporation, (collectively, the “Licensors”) on March 24, 2011 against 4Kids, until such time as the Court may order otherwise.

"We have made every effort to reach agreement with the Licensors," said Goldstein. "When the Company did not receive a positive response from Licensors to its settlement proposal, the Board of Directors was left with little choice but to authorize the filing of a bankruptcy petition under Chapter 11 in order to best preserve the business and assets of 4Kids Entertainment. We continue to believe that the purported termination of the Yu-Gi-Oh! Agreement was wrongful and that 4Kids’ assessment of the audit claims will be vindicated in court. If the Court rules in favor of the Company, 4Kids will pursue the full measure of damages for the significant injury the Licensors have caused to the business of 4Kids," concluded Goldstein.

4Kids is represented in its bankruptcy filing by its long standing outside counsel, Kaye Scholer LLP."

Disclaimer: I will admit to being one of those people who would like to see 4kids drown because they obviously have a bad track record with crappy dubs (Though it is included, the general consensus I have read on what people think about their Pokemon dub was that it was their best. Same goes for their first Yu-Gi-Oh! series).

However, please don't have this being one of those threads with responses that say things like "Good riddance" or "This is a miracle". I am saying for this for the following reasons: Regardless of what people may think, many otaku had the first exposure to anime from the heavily censored Americanized (some cases, Canadian localized) shows like Pokemon, Dragon Ball Z, Sailor Moon, etc. Also, when it had its 1998 American debut, Pokemon is the anime that really made anime more mainstream. That is, it really put anime on the American and Canadian map. While the video games also contributed equal importance, the 4kids version made the card game a blockbuster here.

Second reason applies to any company: Those who want 4kids extinct may/may not feel the same way if they were working for a company that has little left.

Third reason: Their site of Toonzaki. Look it up. They have titles from both themselves and other companies like CrunchyRoll. They are now streaming titles that are clearly aren't TV-Y7 material (The lesbian show of Maria Holic is on that list).
Not only am I okay withi it, I am asking moderators to lock this thread should they feel it needs to be because I might be setting up the possibility of nasty reply mania.
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25 / M / in a world where...
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Posted 4/6/11
anime is eastern oriented its a miracle its survived here for as long as it has ive always known that it would revert back to its original state
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41 / M / Canada
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Posted 4/6/11
Seeing a company go down is never a good thing. Whatever the policies and decisions of the people in charge there are lots of people who work for them that just want to earn a living and live decent lives.
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17 / M
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Posted 4/6/11
^ they deserved it, al Kahn I mean. For trying to erase it's eatern origins and providing terrible dubs. I just have to say, it's nice to see tge wirst dubbing company Down
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27 / M / Glendale, AZ
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Posted 4/6/11
Lelouch, your response is the type of response I am asking not be mentioned. This is obvious. The original dubbing companies from the 60s and 70s also had horrible dubs that tried to ease it's Eastern origins. If you are going to say response back to this post I am typing right now, please make sure that you are using proper spelling.
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28 / M
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Posted 4/6/11
............shit
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M / Europe
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Posted 4/6/11
I actually lol'd.
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23 / M / Chicago
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Posted 4/6/11 , edited 4/6/11
It would appear as though a lot of company's are filing for chapter eleven this year. Having worked for Borders (a bookstore here in the US) for sometime now, it is a shame that we too found ourselves doing such a thing and our store, amongst others, closed in the process.
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22 / M / Australia.
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Posted 4/6/11
The company deserved it.
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27 / -----------------...
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Posted 4/6/11

However, please don't have this being one of those threads with responses that say things like "Good riddance" or "This is a miracle". I am saying for this for the following reasons: Regardless of what people may think, many otaku had the first exposure to anime from the heavily censored Americanized (some cases, Canadian localized) shows like Pokemon, Dragon Ball Z, Sailor Moon, etc. Also, when it had its 1998 American debut, Pokemon is the anime that really made anime more mainstream. That is, it really put anime on the American and Canadian map. While the video games also contributed equal importance, the 4kids version made the card game a blockbuster here.

Second reason applies to any company: Those who want 4kids extinct may/may not feel the same way if they were working for a company that has little left.

Third reason: Their site of Toonzaki. Look it up. They have titles from both themselves and other companies like CrunchyRoll. They are now streaming titles that are clearly aren't TV-Y7 material (The lesbian show of Maria Holic is on that list).
Not only am I okay withi it, I am asking moderators to lock this thread should they feel it needs to be because I might be setting up the possibility of nasty reply mania.



@kadmos1 and http://www.animenewsnetwork.com/bbs/phpBB2/viewtopic.php?t=186884
excellent news I read from the Big Apple
I watched all the youtube rants and loquendos about 4kids and somehow both 4kids and 4kids international (outside in the USA) I watched all 4kids shows until I changed after watching a repeat of Yu-Gi-Oh! and Sonic X over and over, I quit going to 4kids long time ago and whenever i tried to login their site on forum it's on moderation approval and Toonzaki I checked their website but it's different compared to 4kidstv and the difference is not PG huh that's why I no longer watch 4kids couldn't say much just what 4kids done and I watch different shows btw.
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29 / M
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Posted 8/18/12

kadmos1
However, please don't have this being one of those threads with responses that say things like "Good riddance" or "This is a miracle". I am saying for this for the following reasons: Regardless of what people may think, many otaku had the first exposure to anime from the heavily censored Americanized (some cases, Canadian localized) shows like Pokemon, Dragon Ball Z, Sailor Moon, etc. Also, when it had its 1998 American debut, Pokemon is the anime that really made anime more mainstream. That is, it really put anime on the American and Canadian map. While the video games also contributed equal importance, the 4kids version made the card game a blockbuster here.


What a ridiculous argument.

First, those that their dubbed shows were huge successes doesn't mean that 4kids is any good. They were successes because the shows themselves, not because the dub turned them into successes. If you think that Pokémon was a success because of 4kids, then you simply have no clue what you're talking about.

Second, even if 4kids didn't exist, most of those shows would still have been dubbed and would still have been successful and introduced so many people to Anime. Other dubbing companies would have dubbed and censored them in 4kids' place.

Third, most of 4kids' dubs were watched by kids, and kids have lower standards. Ergo, just because kids accepted their dubbed versions of those Anime series, that doesn't mean that they were any good.

And fourth, I was introduced to Anime via some of 4kids dubs, and yet even as a young kid I realized how low-quality they were.
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Posted 8/18/12
I dont like the company and think they suck, but for the little guys in the company, I feel sorry for them losing their jobs.
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26 / F / Lynnwood, Washington
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Posted 8/18/12
It's a mixed bag for me...Pokemon may have been their best dub, but apparently, they lost money when people found out they were editing a majority of the shows they were licensed. I don't need to tell you about how many people asked for an uncut dub of Sonic X only to be ignored (then again, it was probably asking for too much. I mean, the only uncut show that was available when they were in business was the Yu-Gi-Oh series (also available in a terrible dub)).

I myself feel sorry and yet, really evil at the same time

However, they do have Americanized properties from Europe (Viva Pinata comes to mind).

I would criticize them further for watering down a bunch of popular shows, but I still have to remember this: Pokemon, although watered down for American consumption, stayed about as faithful as possible when dubbed and it let to a mainstreaming of anime all together.
Posted 8/18/12 , edited 8/18/12
I'm trying to say something nice...

Nope, nothing's coming.
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the South Bay
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Posted 8/18/12 , edited 8/18/12
Sometimes when you know you can not win a lawsuit and the other party does not want to settle and what is at stake is basically all your asset , then one thing you can do is to file for Chapter 11.

I feel for the employees who will lose their job in these hard economic times.

I have no feelings for 4Kids,but if they survive this mess and restructure the company , hope they manage their products and partners well and make profit instead of enemies.

p.s. I am just making an assumption.
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