Sony’s Funimation Global Group has purchased Crunchyroll from AT&T, eight months after announcing its intention to do so. The deal merges the two biggest dedicated anime streamers in the U.S., placing Sony in pole position in a fast-growing market.
The purchase price is $1.175 billion, subject to customary working capital and other adjustments, as previously announced. AT&T expects to use the money to pay off some of its copious debt.
News of the acquisition broke in December, after months of rumors. The sale then hit a snag when the U.S. Department of Justice reportedly extended its antitrust review. The prospect of consolidation not only alerted the government but also alarmed many fans, who worried that it will hurt the anime industry by reducing the number of buyers.
