TOKYOPOP to Restructure

TOKYOPOP has formally announced an immediate company reorganization that splits TOKYOPOP into two separate companies and eliminates 39 positions.

Tokyopop Inc. will continue traditional book publishing under supervisor John Parker and associate publisher Marco Pavia.

Tokyopop Media LLC handle digital distribution and publishing as well as manage film adaptations of TOKYOPOP properties. Tokyopop CEO Stu Levy will manage Tokyopop Media LLC and serve as CEO and “Chief Creative Officer” of the two-part “TOKYOPOP Group” corporation.

As a result of this corporate restructuring, 39 jobs are being cut across the TOKYOPOP Group.

TOKYOPOP Inc. has informed Anime News Network that “due to current market challenges” publishing will be reduced by half, from roughly 470 volumes a year to 225-240 volumes a year.