Todd Spangler NY Digital EditorAT&T inked a deal to sell its Crunchyroll anime business to Sony’s Funimation for $1.175 billion in cash, the companies announced.Funimation, a joint venture between Sony Pictures Entertainment and Sony Music Entertainment (Japan)’s Aniplex, has been a major rival to Crunchyroll in the global market for Japanese anime.
AT&T, looking to reduce its debt load, has been looking for a buyer for Crunchyroll for several months. Variety previously reported that AT&T’s WarnerMedia was looking to sell the unit for at least $1 billion.Crunchyroll touts than 3 million subscription VOD subscribers and some 90 million registered users across more than 200 countries and territories.
Read more on variety.com
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