CPM in Trouble?

MangaBlog is reprinting news from Anime News Network (currently sidelined by server issues) that Central Park Media, an anime and manga publisher, is about to declare bankruptcy. Also, a significant number of staff have been laid off.

It figures. They had finally announced a manga title I was looking forward to.

Update: ICV2 has the offical statement:

As our business has been significantly impacted by Musicland’s bankruptcy filing, we are facing tightening sales conditions and are currently focusing on a cost cutting program which will structure the company for future growth without our largest customer. A number of very talented and dedicated employees have unfortunately lost their jobs through no fault of their own. CPM will be happy to assist these fine staff members find employment opportunities, so any company seeking experienced and professional employees are requested to email CPM at HR519@teamcpm.com for further details.

ICV2 goes on to add that “A variety of rumors about CPM have been floating around the Internet over the last few days; O’Donnell said that this statement is the extent of what’s accurate.”

5 Comments

  1. Ed Sizemore

    Johanna, This announcement has me worried to. There are some great anime series licensed by CPM. Now I’m scared I won’t be able to get them, if I don’t buy them now. Just when it looked like CPM was really getting back into the groove too.

  2. Without CPM, Tokyo Pop will have something of a monopoly on the Japanese section of the graphic novel shelves, won’t they? That could potentially be a financial and territorial boon for them, but I am sorely reminded of the last time the comics industry underwent a similar “trimming.” Now all we have to show for it is three publishers and one distributor. I hope this isn’t the harbinger of a “Big Four” stall-out for the next decade.

  3. [...] It’s all over the blogosphere, and Johanna Draper Carlson has a couple of good links. Anime News Network seems to be down though. [...]

  4. Ed, there are a surprising number of people saying that they’re going to run out and buy before they disappear. The outrageous conspiracy part of my brain thinks that if they go into a reorganization as part of bankruptcy instead of closing up, it’s not a bad strategy to goose short-term sales. :)

    Rachel, Tokyopop has had fewer and fewer Japanese series lately, as Viz and Del Rey publish more of them. TP seems to be switching to Korean and OEL.

  5. [...] have been rumors about the company disappearing for two years now, so I can’t say I’ll miss them — I’ve already forgotten [...]

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