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They're just talking about joint production for now, not anything like an actual merger. As far as I can tell, it's all just for the marketing, although it might open up some availability channels. FUNi and Geneon might get some shows on the Anime Network and maybe even discounts at Suncoast, while ADV opens up some of the direct to store and club options that FUNi likes to use. I'm not sure what Geneon brings to the table, except maybe being the company with the closest ties to a Japanese production house.
If I had to guess, I'd say this is probably an attempt to break 4kids and Bandai's domination of the network and basic cable broadcast slots, which is where the most money lies anyway.
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