Sony is buying anime streaming service Crunchyroll from AT&T, in a deal valued at $1.175 billion. While it’s still subject to regulatory approvals, the deal is expected to go through and both companies have issued a joint statement.
Why Is AT&T Selling Crunchyroll?
We previously reported that Sony was close to acquiring Crunchyroll, after the service had been shopped around different companies. Now, that has become a reality, as confirmed in a Sony and AT&T press release.
Crunchyroll was founded in 2006 by university graduates, before being acquired by AT&T in 2018 as part of its $85 billion purchase of Time Warner.
According to Bloomberg, AT&T are looking to unload assets and pay debt. The sale of Crunchyroll comes part of that restructuring, alongside sales of data centers, New York offices, and more.
Crunchyroll has around 550 employees. 250 of those are in the US and 200 are in Europe. No time frame has been given for when the deal has been completed, though AT&T hopes it to be soon, nor how employees will be affected.
The anime service has 3 million paid subscribers, though reaches a total of 90 million consumers in over 200 countries with its free tier and other ventures like games and merchandise.
AT&T Sells Crunchyroll to Sony’s Funimation
AT&T is selling Crunchyroll specifically to Funimation Global Group, which is a subsidiary of Sony. We’ve compared Crunchyroll and Funimation previously, and both are good choices for anime fans.
With Sony now owning both Crunchyroll and Funimation, it gives it a strong hold over the anime streaming market.
Speaking of the purchase, Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment, said:
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.
Sony is paying $1.175 billion for Crunchyroll, subject to customary closing conditions, including regulatory approvals.
With the sale of Crunchyroll soon to be complete, AT&T will be turning its streaming focus to HBO Max—a service which director Christopher Nolan recently branded as “the worst” following the news that Warner Bros. would be releasing its entire 2021 slate on the platform.
Watch Anime Online for Free
If paying for anime doesn’t float your boat, there are lots of great websites where you can watch anime online free and legally.