AT&T is selling the anime-focused Crunchyroll service to Sony for just under $1.2 billion.
Crunchyroll, previously part of WarnerMedia’s Otter Media segment, will now be absorbed into its main rival Funimation, a joint venture between Sony Pictures and Sony Music’s Aniplex.
The deal gives Funimation control over a direct-to-consumer brand with three million subscribers and over ninety million registered users. The sell-off is a part of AT&T’s ongoing effort to streamline all its assets.
Hulu has a long standing deal with Funimation, while Crunchyroll is part of HBO Max’s catalogue. The latter will almost certainly leave the HBO Max catalogue imminently, no word on when or if said content will be incorporated into the Hulu deal as yet.
Source: Reuters
