AT&T Inc and Sony Pictures Entertainment announced that AT&T has agreed to sell its anime streaming service Crunchyroll to Funimation Global Group for $1.175 billion.
Funimation Global Group is a joint venture between Sony Pictures Entertainment Inc and Sony Music Entertainment Inc’s subsidiary, Aniplex Inc.
Sony’s Funimation Global Group has one million paying subscribers will now own Crunchyroll which is currently part of AT&T’s Warner Media segment.
This deal will help Sony gain access to Crunchyroll’s 3 million paying subscribers across more than 200 countries and regions, as Sony is aiming to strengthen its entertainment content and distribution business.
Since CEO John Stankey taking over the company, AT&T has been looking to monetize its non-core assets, the latest deal will allow it to invest in other focuses of Warner Media.
Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment said
“We are proud to bring Crunchyroll into the Sony family, “Through Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan,”
“We have a deep understanding of this global artform and are well-positioned to deliver outstanding content to audiences around the world,”
“Together with Crunchyroll, we will create the best possible experience for fans and greater opportunity for creators, producers and publishers in Japan and elsewhere,”
”Funimation has been doing this for over 25 years and we look forward to continuing to leverage the power of creativity and technology to succeed in this rapidly growing segment of entertainment.”
Crunchyroll connects manga and anime fans across 200 plus countries and territories. Through Crunchyroll fans will have access to largest collections of licensed anime.
Sony Corporation’s subsidiary Sony pictures Entertainment has television production, distribution and acquisition; motion picture production, distribution and acquisition development of new entertainment products, technologies and services.
Funimation has been delivering anime for over 25 years; it offers huge number of streaming services over 700 anime series on fifteen platforms in forty-nine countries.
