Sony and AT&T announced recently that for $1.175 billion, Sony would purchase anime streaming service Crunchyroll from AT&T. In particular, Crunchyroll will turn out to be essential for Sony’s Funimation, which as of now licenses numerous famous shows, for example, Fullmetal Alchemist, Attack on Titan, and One Piece.

Since Sony owns both Funimation and Crunchyroll, the company has enormous control over anime in the US when so many other media companies are attempting to sort out their anime content. Netflix has additionally invested vigorously in both producing and licensing its own anime content.

CEO of Funimation Global Group, Colin Decker said in a statement that Crunchyroll and Funimation union is a win for anime fans globally that will lift the culture and art of this mode for quite a long time to come. He added that joining these two great companies will be a success for fans and enable them to compete really worldwide scale; he is regarded to welcome the brilliant Crunchyroll team to a common mission, to assist everybody with having a place the extraordinary anime world.

General manager of Crunchyroll, Joanne Waage said in a statement that they are excited to embark on this new journey and Crunchyroll has constructed a world-class brand with a passionate fan-base of over 50 million social followers, 3 million subscribers and 90 million registered users. He added in the statement that these astonishing fans have assisted with pushing anime into a worldwide phenomenon and Joining the strength of the Crunchyroll brand and the expertise of their worldwide team with Funimation is an energizing prospect and a success for the incredible art of anime.

AT&T has been looking Crunchyroll for quite a while, and Sony and AT&T have apparently been in discussions for quite a long time about the deal. The Information reported in August that AT&T needed Sony to pay $1.5 billion for Crunchyroll, and in October, the different sides were purportedly near an almost $1 billion deal.  

According to the New York Times, in 2018, AT&T bought Crunchyroll as part of Otter Media from the Chernin Group for an announced amount of more than $1 billion. Current CEO of AT&T John Stankey who was head of WarnerMedia at that time said that the company would use the Otter Media securing to harness Otter’s expertise. AT&T and WarnerMedia under Stankey’s leadership focused on creating HBO Max, the company’s streaming offerings crown jewel.

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Sony is buying Crunchyroll from AT&T