Studio Ghibli, the anime powerhouse that created such anime classics as My Neighbor Totoro, Grave of the Fireflies, Porco Rosso, Only Yesterday, Spirited Away, and most recently released film The Boy and the Heron, has been acquired by Nippon Television Network Corporation or better know as Nippon TV.

It was reported by The Japan Times, that after a board of director’s meeting last Thursday and with the studio’s approval, Nippon TV will own 42.3% of Studio Ghibli shares. Another reason is also said that there is no successor to the studio as both Hayao Miyazaki is 82 and Toshio Suzuki is 75. There was talk that Miyazaki’s son, Goro Miyazaki was going to take over, but instead went this route.

The new head of Studio Ghibli will be Hiroyuki Fukuda, a senior operating officer and board director at Nippon TV. In a press release, it is stated that Nippon TV will handle all management operations, which in return will let Studio Ghibli focus on its creative side.

Let’s see in a year or so if this will work out or not.