Studio Ironcat (formerly I.C. Entertainment) was the original publisher of the first MT book, Megatokyo: Chapter Zero.
This falling out lead to a period of controversy for Fred and many were quick to jump to conclusions and paint Fred in a negative light but obviously, Fred has recovered from this small period of strife.
They announced they would close down on January 28, 2005. Quoting from the message they last had on their website:
- "Studio Ironcat, LLC was a small, independent publisher that endeavored to advanced Japanese manga in North America for the past seven years. Although we had a great run at the start, thanks to support from manga fans, we've had a rough road the last couple of years. We've enjoyed our time in the publishing industry, but we feel that we must move on to other endeavors."