Atari vs. FUNimation: Settled?
Published by 10 December 2007, 5:39 PM EST

According to Atari’s latest press release, all disputes with FUNimation have been settled and they will continue onwards as the exclusive US rights holder — all it did was cost them another $3.5 million:

Atari, Inc. (Nasdaq: ATAR), an interactive entertainment company, announced today that it settled its previously reported dispute with FUNimation Productions Ltd. with respect to an audit of amounts due to FUNimation under certain sublicense agreements and other matters.

Under the terms of the settlement, Atari, Inc. paid to FUNimation $3.5 million, comprised of a cash payment of approximately $2.7 million and a reduction of $0.8 million in the amount of the recoupable royalty advance made to FUNimation. Atari, Inc. originally paid FUNimation $10 million in January 2004 to secure the exclusive interactive U.S. rights for the Dragon Ball Z franchise through January 2010. As previously disclosed in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, the Company reserved the settlement as of September 30, 2007.

“With this dispute behind Atari, Inc. we look forward to continuing our relationship with FUNimation and continuing to deliver to our consumers exciting products from the Dragon Ball Z franchise,” said Curtis G. Solsvig III, Chief Restructuring Officer of Atari, Inc.

Long story short, as we have seen with Atari in the past, their ability to count money has not exactly been top-notch. Looks like FUNimation called them out on it, and demanded the rest of the money they were owed. They collected, everyone is on friendly terms again, and unless Atari goes out of business they are going to keep distributing DBZ games until 2010. On a somewhat related note, it looks like the other of the “two” license disputes FUNimation had with Atari was with “Yu Yu Hakusho”.

Atari also announced some additional restructuring today, but nothing seems to affect the DB license all that much.

Share This Post

Write a Reply or Comment

You must be logged in to post a comment.