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Sony To Buy Anime Streaming Service, Crunchyroll, From AT&T

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Sony has agreed to a deal to buy anime streaming service Crunchyroll from AT&T for $1.175 billion. Both parties announced the deal on Wednesday 11th December 2020.

 

Crunchyroll will now join Sony’s Funimation. Funmination already licenses many popular shows like Attack on Titan, Fullmetal Alchemist, and One Piece.

 

“We are excited to embark on this new journey. Crunchyroll has built a world-class brand with a passionate fan-base of over 3 million subscribers, 50 million social followers, and 90 million registered users. These amazing fans have helped to propel anime into a global phenomenon. 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,” the general manager of Crunchyroll, Joanne Waage, said in a statement.

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According to The Information, Sony and AT&T have been in talks over Crunchyroll for a while. In August 2020 the news agency reported that AT&T wanted to sell Crunchyroll for $1.5 billion. However, in October 2020 it also reported that the two sides were reportedly close to a nearly $1 billion deal.

 

“The union of Funimation and Crunchyroll is a win for anime fans around the world that will elevate the art and culture of this medium for decades to come. Combining these two great companies will be a win for fans and enable us to compete at a truly global scale. I am honored to welcome the wonderful Crunchyroll team to a shared mission—to help everyone belong to the extraordinary world of anime,” Colin Decker, CEO of Funimation Global Group, said in a statement.

 

AT&T itself had previously bought Crunchyroll as part of Otter Media in 2018 from the Chernin Group. The deal was reportedly worth more than $1 billion, according to the New York Times.

 

 

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