Navarre Corporation
 | |
| Company type | Private |
|---|---|
| Industry | Music and film distribution and publishing |
| Founded | 1983 |
| Founder | Eric H. Paulson |
| Defunct | 2008 |
| Fate | Shut down. Assets acquired by WYNIT Distribution llc. Relaunched as Navarre Distribution in 2016 |
| Headquarters | Greenville, SC, New York, NY , |
| Owner | Geof Lewis and Peter Richichi |
Number of employees | 648 |
| Divisions | Navarre Distribution |
| Subsidiaries | Encore, Inc. BCI |
Navarre Corp. was an American public distribution and publishing company founded in 1983 by Eric H. Paulson. The company was headquartered in New Hope, Minnesota. Navarre owned two subsidiary companies: a software publisher, Encore, Inc., and a distributor, Navarre Entertainment Media. The company formerly offered niche films through BCI Home Entertainment a.k.a. BCI Eclipse Company (formerly Brentwood), but this division was closed in a 2008 re-structuring due to the recession, after 2 years of being unprofitable.
In June 2005, Navarre determined that its financial statements for 2004, and the first and third quarter of 2005, should be restated, because expenses related to the incentive-based deferred compensation of the company's CEO was recorded in the wrong quarter.[1] In 2016, Navarre Distribution relaunched to provide audio and film distribution to labels and artist globally.
Acquisition and sale of Funimation Entertainment
In May 2005, Navarre acquired Funimation Productions (now owned by Sony Pictures).[2] After the sale, Funimation Productions changed its name to Funimation Entertainment. Then, in April 2011, Navarre sold Funimation to a group of investors including Funimation co-founder Gen Fukunaga.[3]
Merger with SpeedFC and name change to Speed Commerce
On September 28, 2008, Dallas-based SpeedFC agreed to merge with Navarre for $50 million in cash and stock. The merger closed in 2013; the company changed their name from Navarre Corporation to Speed Commerce afterward.
On July 9, 2014, Syracuse, NY based Wynit Distribution LLC acquired the majority of the assets of Navarre Distribution Services and Encore from Speed Commerce. Since then, the Navarre name has been retired.
References
- ^ "Navarre Corporation Reports Financial Results for Fourth Quarter and Fiscal Year 2005". Archived from the original on 2013-10-18.
- ^ "Navarre Corporation Acquires [Funimation], and Provides Financial Update and Guidance" (Press release). Navarre Corporation. 2005-05-11. Archived from the original on 2012-07-10. Retrieved 2011-06-02.
- ^ "Navarre Corporation Announces Sale Of FUNimation Entertainment". GLOBE NEWSWIRE. 2011-04-04. Archived from the original on 2011-04-07. Retrieved 2011-04-04.
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