Sony’s Funimation agrees to buy anime streamer Crunchyroll for $1.175 billion

Two years ago, Sony’s purchase of Funimation drove a wedge behind the anime production house and Crunchyroll, which is primarily a subscription streaming video service. Crunchyroll ended up becoming a part of AT&T via the Time Warner acquisition and supplied some content for HBO Max, but now AT&T has agreed to sell it off to Sony/Funimation for $1.175 billion.

Crunchyroll noted it has 3 million subscribers and over 90 million registered users across more than 200 countries. In a statement regarding the sale (which includes VRV), the companies said “The combination of Crunchyroll and Funimation provides the opportunity to broaden distribution for their content partners and expand fan-centric offerings for consumers.” According to Bloomberg, one advantage of the deal for Sony is that it will be easier to promote music from its artists that frequently make theme songs for the cartoons.