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Sony in talks with AT&T to buy Crunchyroll for more than $950 million

Nikkei Asia reported Friday that Sony, who has its own anime-streaming service in Funimation, is in "final negotiations" to acquire Crunchyroll for almost $1 billion and positioning the Japanese company as a global leader in the industry.

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The acquisition would give Sony access to Crunchyroll’s 70 million members around the world, allowing the Japanese entertainment and electronics conglomerate to compete better with Netflix and other global rivals, the Nikkei said.
Sony is looking to acquire the anime-streaming service, Crunchyroll according to a new report.

The report states that Sony recently won the rights to negotiate for Crunchyroll from U.S. Telecommunications giant AT&T who purchased the anime streaming service in 2018.

Hopes to leverage the new channel to distribute its own entertainment content, including films and music.

A Sony spokesman declined to comment on the report.

It bought Funimation Productions Ltd, an animation distributor with one million paying subscribers, for about $143 million in 2017.

Sony is beefing up gaming and entertainment businesses under Chief Executive Kenichiro Yoshida’s strategy to increase recurring revenue streams that cushion the impact of volatile hardware sales cycles.

It raised its annual profit outlook this week, with its gaming business continuing to capture “nesting” demand and Japanese animated film “Demon Slayer” – co-distributed by Sony’s music unit – making a robust start in Japan.

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