On May 27, 2010, Navarre Corporation announced that it began negotiating a potential sale of Funimation. It was also announced that if the sale took place, Funimation would be reclassified as a "discounted operation" starting in the first quarter of 2011. On September 16, 2010, Navarre announced that six potential buyers were interested in acquiring Funimation. In the first quarter of 2011, Navarre reclassified Funimation as "discounted operations". On April 4, 2011, Navarre released a statement announcing that Funimation had been sold to a group of investors that included original owner Gen Fukunaga for $24 million. It was also announced that Navarre would remain as exclusive distributor of Funimation's titles.