Funimation Completes Crunchyroll Acquisition

The acquisition of Crunchyroll was given at a price of $1.175 billion USD

Sony Pictures Entertainment and AT&T announced Monday that Funimation Global Group (Sony) has completed the acquisition of Crunchyroll from AT&T. The purchase price was for a total of $1.175 billion dollars. AT&T expects to use the proceeds from the transaction to help reduce its debt. The announcement did not reveal whether the individual streaming services would merge or what the subscription plans would be for users. In the statement of Crunchyroll you can read:

The two brands you know and love will now be working together, and we think this is great for fans and the industry alike! Both teams are knowledgeable, passionate, and have been committed to the anime community for decades. We couldn’t ask for better partners. We know you may have questions! Today we begin the work of bringing together two incredible teams to give you more of what you love. Thank you for your trust and support!

While on the official blog of Funimation They shared the following message:

We are beyond excited that today Funimation and Crunchyroll have become one company. This means that two anime-obsessed teams will come together to bring you even more of what you love, wherever you want it, whenever you want it. This is a huge win for the creators and especially the fans! Long live the anime! Our priority is you, the millions of fans who make up the global anime community. And now we have the opportunity to create a unified anime subscription experience that puts fans first, offering the most complete lineup ever. There is a lot to do, so the work starts today to make it happen! We know you have many questions! For now it’s anime as usual on both services, and as soon as we have an update you’ll be the first to know.

YOU MAY BE INTERESTED: The GeGeGe no Kitarō franchise will have its own play in 2022
Kenichiro YoshidaChairman and CEO of Group Corporation commented on the merger:

“We are very excited to welcome Crunchyroll to Sony Group. Anime is the fast-growing medium that captivates and inspires emotions among audiences around the world. Crunchyroll and Funimation’s lineup will allow us to get even closer to the creators and fans who are at the heart of the anime community. We look forward to delivering even more exceptional entertainment that fills the world with excitement through anime.”

Crunchyroll and Funimation initially announced the acquisition in December 2020. As reported in August 2020 by The Information, AT&T offered Crunchyroll to Sony for $1.5 billion, which Sony refused to pay. In turn, the Variety site reported that AT&T was offering the streaming service to several potential buyers other than Sony at the time. Nikkei Asia would later report in October that Sony was in final negotiations to acquire Crunchyroll. At the time, the newspaper indicated that Sony “could spend more than 100 billion yen ($957 million)”.

VIA: ANN, Sony Press Release, Crunchyroll, Funimation Blog