Navarre – the former parent company of the North American anime distributor Funimation – along with its current owner WYNIT Holdings, filed for protection under Chapter 11 of the U.S. Bankruptcy Code on September 9.

Navarre Corporation acquired FUNimation Productions, LTD. in 2005, after which Funimation Productions changed its name to Funimation Entertainment. Navarre sold Funimation in 2011 to a group of investors that included Funimation's chief executive officer Gen Fukunaga. Navarre Corporation announced its exit from the home video distribution market later that year. WYNIT Holdings acquired Navarre in 2014.

Funimation revealed on October 28 that it has closed the deal for Sony Pictures Television Networks' acquisition of a majority stake in the company.

Sources: Business Journal, The Wall Street Journal