×
You will be redirected back to your article in seconds

Japan Video Leader Culture Convenience Club to Buy Publisher Tokuma

TOKYO — Culture Convenience Club, which operates Japan’s largest DVD and CD rental chain, Tsutaya, plans to acquire publisher Tokuma Shoten, according to Japanese media reports.

CCC subsidiary Culture Entertainment, whose businesses including publishing, will increase its stake in Tokuma from the current 15% to more than 90%, with the deal expected to complete by end of March.

Founded in 1954, Tokuma acquired one-time film industry major Daiei Studio in 1974, but sold it following founder Yasuyoshi Tokuma’s death in 2000. The publisher, however, is best known abroad for its early backing of Studio Ghibli, the animation house that made the hits of Hayao Miyazaki. Ghibli went independent in 2005, but Tokuma has continued to publish a lucrative line of books related to the studio’s enduringly popular animation.

Overall, however, the company’s sales have declined. Despite a declining DVD market, CCC set a corporate record last year for book and magazine sales, which totaled $1.1 billion. Through the purchase of Tokuma, CCC intends to expand its sales network and enhance its publishing expertise.

More Biz

  • Kevin LilesUJA-Federation of New York's Music

    300’s Kevin Liles Joins NY:LON Summit Keynote Roster

    The Music Business Association (Music Biz) and Music Ally today announce that 300 Entertainment cofounder and CEO Kevin Liles will deliver a keynote interview at the fourth annual NY:LON Connect music business summit. The conference takes place January 16 – 17, 2020 at the Dream Downtown Hotel in New York. According to the announcement, Liles [...]

  • Warner Bros. HQ LA

    Small Brush Fire Breaks Out Above Warner Bros. Lot in Burbank

    UPDATED: A small brush fire broke out in the Hollywood Hills above the Warner Bros. studio lot in Burbank, Calif., causing the Warner Bros. lot to evacuate as a precaution, before its forward progress was stopped at around 5 p.m. Saturday. According to the LAFD, fire crews are working on putting out the “still active [...]

  • Woody Allen

    Woody Allen Settles $68 Million Suit Against Amazon

    Woody Allen has settled his breach of contract lawsuit against Amazon, which canceled a four-picture deal with the filmmaker amid the #MeToo movement. Allen’s attorneys and lawyers for Amazon filed a joint notice dismissing the case on Friday night. Terms of the settlement were not disclosed. Allen filed suit in February, alleging that Amazon had [...]

  • Scott Stuber, Ron Howard are seen

    Netflix's Scott Stuber: Film Biz Needs to 'Be Calm and Talk Through' Exhibition Disputes

    Netflix film chief Scott Stuber urged film producers and exhibitors to come together to reach a consensus on exhibition window disputes as Netflix and other streaming giants move forcefully into feature production. Stuber, Netflix’s VP of film, spoke Saturday morning at the Producers Guild of America’s Produced By NY conference in a wide-ranging Q&A with [...]

  • Donald Trump Hollywood Racism

    President Trump Bashes Report of Talks With Mark Burnett for New 'Apprentice' Series

    President Donald Trump took to Twitter on Saturday morning to blast as “fake news” a report earlier this week that he is planning to develop a TV series with “The Apprentice” creator Mark Burnett following his time in the White House. On Thursday, the Daily Beast reported that Trump has been talking to Burnett, a [...]

  • BMG Music

    BMG Announces Move to Bigger Digs in L.A., Following Nashville and NYC Relocations

    Less than two months after announcing a planned move to a bigger and better facility in Nashville, BMG has declared plans to do the same in Los Angeles, with a deal in place to develop a two-story, 30,000-square-foot facility in the Miracle Mile district. It won’t be a long move: the location for the “proposed” [...]

  • Vaping

    'Veronica Mars' Former Casting Assistant Reportedly at Center of Vaping Injury Epidemic

    The vaping-related lung injury epidemic that has caused 39 deaths and sickened over 2,000 e-cigarette users across 49 states may have had an unlikely culprit: Joshua Mathias Temple, a former “Veronica Mars” casting assistant, who also appeared as an actor in one of the show’s episodes, has been identified as a possible central figure behind [...]

More From Our Brands

Access exclusive content