Sony Pictures Entertainment Inc., Y. AT&T Inc.announced that AT&T has approved the sale Crunchyroll to Funimation Global Group, LLC. Funimation is a joint venture between Sony Pictures Entertainment Inc. and the subsidiary of Sony Music Entertainment (Japan) Inc., Aniplex Inc.
Crunchyroll is a leading anime service for direct customers within the segment of WarnerMedia with more than three million paying subscribers and still growing. Serves 90 million registered users in more than 200 countries and territories Anime video on demand, Mobile games, manga, merchandise and event distribution. The combination of Crunchyroll and Funimation offers the possibility to expand the distribution for its content partners and to expand the offer for fans and consumers.
“”The Crunchyroll team did an exceptional job, not only expanding 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 fans.“He mentioned Tony Goncalves, Chief Revenue Officer of WarnerMedia. “”By combining with Funimation, they will continue to have a global community and provide more anime to more people. I am incredibly proud of the Crunchyroll team and what they have achieved in digital media in such a short amount of time. They created a global ecosystem for this incredible art form from start to finish.“.
“”We are proud to add Crunchyroll to the Sony family“He mentioned Tony Vinciquerra, President and CEO of Sony Pictures Entertainment. “”Through Funimation and our great 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 wider range of options 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 thrive in this rapidly growing entertainment segment.“.
Ultimately, the purchase price of the transaction was $ 1.175 billion, subject to regular working capital and other adjustments, and the proceeds will be paid out in cash upon completion. The transaction is subject to customary closing conditions, including regulatory approvals.
Source: Press release
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