From: http://www.icv2.com/articles/news/12677.html

“Manga giant Tokyopop announced this morning that it is spinning off its comics-to-film and digital units into a new company, Tokyopop Media LLC; publishing operations will remain in Tokyopop Inc.  

 

“Publishing production will be reduced by roughly 50% through the rest of the year, reducing output to roughly 200-225 titles per year from a planned total of over 500 titles. Tokyopop CEO and Chief Creative Officer of the Tokyopop Group, Stuart Levy, explained the reasons for the reduction in output.  “The time is now for us to focus our publishing business to overcome current market challenges.  Few releases will allow for less cannibalization at retail.” “

How about that.

I hope my friends at TP are still gainfully employed by the end of the week…
- Chris