Sony completes nearly $1.2 billion acquisition of Crunchyroll anime business

Entertainment

FILE – This Nov. 15, 2018, file photo shows the logo of Sony at its showroom in Tokyo. Sony Corp. is making its financial services unit a wholly owned subsidiary to ensure stability as the Japanese entertainment and electronics company seeks to ride out the financial woes brought on by the new coronavirus pandemic. (AP Photo/Koji Sasahara, File)

CULVER CITY, Calif. (KGET) — Sony Pictures Entertainment has completed its nearly $1.2 billion acquisition of AT&T’s Crunchyroll anime business.

The agreement was first announced in December. Crunchyroll has five million subscribers and offers mobile games, manga and events merchandise, said a Sony news release.

“We are very excited to welcome Crunchyroll to the Sony Group,” Kenichiro Yoshida, chairman, president and CEO of Sony Group Corporation, said in the release. “Anime is a rapidly growing medium that enthralls and inspires emotion among audiences around the globe.”

Tony Vinciquerra, chairman and CEO of Sony Pictures Entertainment Inc., said in the release that Crunchyroll adds “tremendous value” to Sony’s existing anime businesses, including Funimation Global Group.

“Our goal is to create a unified anime subscription experience as soon as possible,” he said.

The purchase price was $1.175 billion, the release said.

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