Wednesday, it was announced that AT&T is selling the anime-focused streaming service Crunchyroll to Sony for $1.175 billion. Sony confirmed the deal via a press release containing details on the deal.

Crunchyroll will now be part of Funimation, the joint venture between Sony Pictures and Sony Music’s Aniplex. This deal provides Funimation control over a direct-to-consumer brand with 3 million subscribers and over 90 million registered users across more than 200 countries and territories.

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WarnerMedia chief revenue officer Tony Goncalves released the following statement about the deal:

“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. 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.”

In August, it was reported that WarnerMedia was looking to sell Crunchyroll in order to reduce its debt load. Funimation has been a major rival to the streamer in the global market, so it makes sense for it to absorb the streamer. As of now, there is no confirmation on when the merger will take place, so stay tuned for any updates concerning the deal.

What do you think of this new deal? Do you subscribe to Crunchyroll or Funimation? Let us know in the comments below!

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