Production I.G. to Acquire Mag Garden

Production I.G. has formally announced plans to merge operations with Japanese manga publishing company Mag Garden, in effect, absorbing the publisher. Production I.G.’s decision is explained by sluggish anime DVD sales, the nonviable state of the DVD-only business model, declines in sales of manga magazines, and an ongoing Japanese market shift away from printed comics toward online services. The merger will take effect on December 1st.

Source: Anime News Network