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AT&T Sells Crunchyroll to Funimation For $1.175 Billion

2 min read
Expect no immediate changes but know things are coming and 2021 is going to be even more fun in the anime streaming sphere.

Long expected once the rumors crept up this summer and fitting in with the chaos that is becoming WarnerMedia under AT&T’s control, they’ve shed another piece of the empire with Crunchyroll now being sold to Sony Pictures Entertainment and being added to their Funimation Global Group, LLC – which is a joint venture between Sony Pictures Entertainment and Aniplex.

The purchase price for the transaction is $1.175 billion subject to the usual customary working capital and other adjustments, and the proceeds will be paid in cash at closing. The transaction is subject to standard customary closing conditions, including regulatory approvals.

Expect no immediate changes but know things are coming and 2021 is going to be even more fun in the anime streaming sphere. This is just the start.

“The Crunchyroll team has done an extraordinary job of not only growing the Crunchyroll brand but also building a passionate community of anime fans. Crunchyroll’s success is a direct result of the company’s culture and commitment to their fans,” said Tony Goncalves, Chief Revenue Officer, WarnerMedia. “By combining with Funimation, they will continue to nurture a global community and bring more anime to more people. I’m incredibly proud of the Crunchyroll team and what they have been able to accomplish in the digital media space in such a short period of time. They’ve created an end-to-end global ecosystem for this incredible art form.”

“We are proud to bring Crunchyroll into the Sony family,” said Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment. “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. Funimation has been doing this for over 25 years and we look forward to continuing to leverage the power of creativity and technology to succeed in this rapidly growing segment of entertainment.”

[Source: Busineswire]