FUNimation may be about to avert a bit of a close call for anime fans in North America, as it negotiates to acquire some titles that otherwise might stop being distributed here. But don’t heave your sigh of relief just yet. Things have begun to move, but nothing is finalized.

Navarre Corporation, which among other things owns FUNimation Entertainment, announced last week that the company is in "very early stages of negotiations to acquire some of the Geneon library of titles." The announcement came when CEO Cary Deacon was making Navarre’s financial report for the fiscal quarter that ended on December 31st.

Geneon has had more than a decade of history in the North American market, beginning as Pioneer LDC of America in 1993, and becoming Geneon Entertainment (USA) Inc. late in 2003.

But the company announced very abruptly last September that it would cease distributing its DVDs after the termination of a proposed sales and distribution alliance with ADV.

To get some idea of the titles that could be at stake, here are just a few of the shows Geneon licensed: Ah! My Goddess, the Akira movie, Azumanga Daioh, Cardcaptor Sakura, Dragon Ball Z movies one through three, Excel Saga, Hellsing, Sailor Moon, and Tenchi in Tokyo. That’s quite a list, and it barely scratches the surface.

Cary Deacon didn’t give any indication when he thought the deal might go through if it’s successful. But with FUNimation's good financial situation, combined with the downward pressure on new anime prices because of Geneon's departure, the prospects look very good.

We can only hold our breaths and cross our fingers, and hope that we’ll be able to enjoy some of our favourite anime titles for a long time to come.