AT&T Looking to Sell Crunchyroll for $1Billion!

Updated: Aug 14, 2020

AT&T Looking to Sell Crunchyroll for $1Billion!

AT&T is looking to sell Crunchyroll, its anime subscription streaming service for at least $1 Billion. Sony Pictures Entertainment is one of the potential buyers, which also operates the competing Funimation service. On August 12, 2020, The Information reported that Sony, Funimation's parent company, is in talks to acquire Crunchyroll. If the sale proceeds forward, Crunchyroll will reteam with Funimation, as well as team up with fellow Sony-owned anime licensor Aniplex of America.

It was previously reported that the media company wanted $1.5 billion for the streaming company. But a source familiar with WarnerMedia, a subsidiary of AT&T, said that it was much higher than the company is expecting to get from, which is being pitched to additional buyers besides Sony.

Crunchyroll was one of the first purchases made by Otter Media, a streaming-video partnership formed in 2014 between AT&T and Chernin Group. The original price wasn't disclosed.

Crunchyroll two weeks ago announced that it surpassed 3 million paying subscribers worldwide, and has more than 70 million registered users. Currently, Crunchyroll features more than 1,000 titles and 30,000 episodes, which it claims represents the world's largest anime library. Earlier this year, Crunchyroll announced its inaugural slate of originals, with 12 total series announced to date. The first two originals, "Tower of God", a Crunchyroll and Webtoon Production, and "The God of High School", both set new viewership records on the streaming platform.

Founded in 2006, Crunchyroll is an American distributor, publisher and licencing company focused on streaming Anime, Manga and Japanese television Drama. Crunchyroll Hime, or "Hime", is the official mascot of the company.

Source: Variety, BNN Bloomberg

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