Sony Pictures Entertainment Inc said on Thursday that AT&T has agreed to sell US anime streaming giant Crunchyroll for $1.175 billion.
Previously a subsidiary of WarnerMedia’s Otter Media, Crunchyroll will be joining Sony’s Funimation Global Group, which is a joint-venture between Sony Pictures Television and Aniplex, a subsidiary of Sony Music Entertainment (Japan).
“Combining the strength of the Crunchyroll brand and the expertise of our global team with Funimation is an exciting prospect and a win for the incredible art form of anime” said Joanne Waage, general manager of Crunchyroll in a separate statement.
Crunchyroll is an anime direct-to-consumer service with more than 3 million SVOD subscribers. It serves 90 million registered users across more than 200 countries and territories offering AVOD, mobile games, manga, events merchandise and distribution.
Crunchyroll and Funimation will continue to operate independently until the deal closes.