Sony Pictures Entertainment Inc. and AT&T Inc. has announced that AT&T agreed to sell its Crunchyroll anime streaming business to Funimation Global Group, LLC. at a purchase price for the transaction is USD $1.175 billion.
The purchase is subject to customary working capital and other adjustments, and the proceeds will be paid in cash at closing. The transaction is subject to customary closing conditions, including regulatory approvals.
Funimation is a joint venture between Sony Pictures Entertainment Inc. and Sony Music Entertainment (Japan) Inc.’s subsidiary, Aniplex Inc.
Crunchyroll is a premier anime direct-to-consumer service within AT&T’s WarnerMedia segment with more than 3 million SVOD subscribers and growing. It serves 90 million registered users across more than 200 countries and territories offering AVOD, mobile games, manga, events merchandise and distribution.
Source: Sony Pictures