Nippon Television acquires Studio Ghibli amid succession crisis
What's the story
Iconic Japanese cartoon studio, Studio Ghibli, known for films like Spirited Away and Princess Mononoke, has sold a majority stake to Japanese broadcaster Nippon Television (NTV).
The deal makes NTV the largest shareholder with 42.3% of voting rights, turning Studio Ghibli into a subsidiary. This move comes as the studio faces a succession problem with its key figures aging and no clear successor in sight.
Details
Miyazaki Hayao's son refused to take over
Director Miyazaki Hayao and producer Suzuki Toshio are both above 75 and Miyazaki's son, Miyazaki Goro, has declined to take over the company.
After NTV became the largest shareholder, executives from NTV are expected to join Studio Ghibli's management. The two companies have a long-standing relationship spanning three decades.
Insights
Last year, Studio Ghibli opened a theme park
Under Nippon Television's ownership, Studio Ghibli is expected to continue making movies while protecting its "manufacturing" and brand value.
Last year, Studio Ghibli opened a theme park based on Miyazaki's works, featuring rides and attractions inspired by films such as My Neighbor Totoro and Howl's Moving Castle. A My Neighbor Totoro stage adaptation by the Royal Shakespeare Company also opened in London, UK.