I'm actually quite happy about this. I haven't been following them (or any other anime company for that fact) since late 2005, but in the late 90's/early 2000's, ADV Films flooded that damn market (and that was during the anime boom).
When companies like Bandai, Funimation, Pioneer at the time announced 5-8 new license acquisitions during the biggest convention in Anime Expo, you get ADV with TWENTY new licenses. The worse part was 16 of those twenty would be no name titles that got low to stellar ratings in Japan.
The ego of the founders were beyond anyones as well. I mean, building a library of mostly third-tier anime titles just to say that theyre the biggest animation company after disney? starting subsidiaries and projects at their own whim? ADV Manga, ADV Pro, ADV Toys...seriously? Same thing happened to ADV Manga, they licensed a bunch of no name titles that no one bought, which eventually got discontinued. Raising 100 million+ for the Eva movie? ADV acted as if they were a huge corporation.
Looking back at the company's action from 2002-onward, you'd be suprised they didn't fold much earlier.