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AT&T has signed an agreement to sell its Crunchyroll anime business to Sony’s Funimation Global Group for $ 1.175 billion, both companies announced.
“We are proud to bring Crunchyroll to the Sony family,” says Tony Vinciquerra, President and CEO of Sony Pictures Entertainment. “Through Funimation and our excellent partners at Aniplex and Sony Music Entertainment Japan, we have a deep understanding of this global art form and are well positioned to deliver exceptional content to audiences around the world. Together with Crunchyroll, we will create the best possible experience for fans and a 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 harness the power of creativity and technology to succeed in this rapidly growing entertainment segment. “
Funimation is a joint venture between Sony Pictures Entertainment and Sony Music Entertainment Japan’s subsidiary Aniplex. Crunchyroll is a premier direct-to-consumer anime service within AT & T’s WarnerMedia segment with over three million SVOD subscribers and growing. Serves 90 million registered users in more than 200 countries and territories offering AVOD, mobile games, manga, merchandising and event distribution. The combination of Crunchyroll and Funimation provides the opportunity to expand distribution for its content partners and expand fan-centric offerings for consumers.
“The Crunchyroll team has done an extraordinary job not only growing the Crunchyroll brand, but also building a passionate community of anime fans,” says Tony Goncalves, chief revenue officer for WarnerMedia. “Crunchyroll’s success is a direct result of the company’s culture and commitment to its fans. By combining with Funimation, they will continue to nurture a global community and bring more anime to more people. I am incredibly proud of the team at Crunchyroll and what they have been able to accomplish in the digital media space in such a short amount of time. They have created a global ecosystem from start to finish for this incredible art form. “
The purchase price of $ 1.175 billion for the transaction is subject to customary working capital and other adjustments, and proceeds will be paid in cash at closing. The transaction is subject to customary closing conditions, including regulatory approvals.
“We are excited to embark on this new journey,” says Joanne Waage, General Manager of Crunchyroll. “Crunchyroll has built a world-class brand with a passionate fanbase of over 3 million subscribers, 50 million social media followers, and 90 million registered users. These amazing fans have helped propel anime to a global phenomenon. Combining the strength of the Crunchyroll brand and the expertise of our global team with Funimation is an exciting prospect and victory for the incredible art form of anime. “
