Sony's Funimation to Buy AT&T's Crunchyroll Anime Business for $1.2B

AT&T agreed to sell its Crunchyroll anime business to Funimation, a joint venture between Sony Pictures and Sony Music’s Aniplex subsidiary, for $1.2 billion, said the companies Wednesday night. The Crunchyroll direct-to-consumer service has more than 3 million subscribers and 90 million registered users, offering advertising-based VOD, mobile games, manga, events merchandise and distribution.