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Thursday, September 23, 2021

Sony completes acquisition of Crunchyroll from AT&T

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Sony formally owns AT&T’s Crunchyroll.

Sony’s deal to amass Crunchyroll was first announced in December 2020 and sees Crunchyroll be part of Funimation, Sony’s current anime streaming property, below one roof. The final word aim of the unification of the 2 anime properties below a single roof is to develop “a unified anime subscription expertise as quickly as attainable,” mentioned Tony Vinciquerra, Chairman and CEO of Sony Photos Leisure, in an announcement.

The deal is priced at $1.175 billion, and AT&T — which had been reported by The Information to be purchasing the service round for $1.5 billion — will use the funds to assist pay down the debt it amassed from its spending on streaming. In a radical shift away from its streaming technique, AT&T has since determined to release its media assets and deal with its core connectivity enterprise.

In the meantime, Sony plans to make use of the Crunchyroll service to broaden its already substantial anime streaming footprint.

“With the addition of Crunchyroll, we have now an unprecedented alternative to serve anime followers like by no means earlier than and ship the anime expertise throughout any platform they select, from theatrical, occasions, residence leisure, video games, streaming, linear TV — in every single place and each manner followers wish to expertise their anime,” Vinciquerra mentioned.

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