Sony Seeking To Buy Crunchyroll For $1.5 Billion From AT&T

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Sony Pictures is looking to acquire Crunchyroll in its bid to strengthen its hold on the Anime empire. At&T have slapped a price tag of $1.5 billion on the streaming platform. If the two sides do reach a deal eventually, Sony would eventually end up ruling the sector, as it already owns Crunchyroll’s competitor Funimation.

There have been reports that Sony has balked at the price, with analysts saying that the price is far more than what niche streaming services would charge. However, with AT&T looking to cut debts, the prices may eventually come down. Also, Sony believes that it is in a prime position to reap profits from anime.

Crunchyroll, which launched in 2006, was acquired by Otter Media in 2013. Otter, a joint video venture created by AT&T and Peter Chernin, became a full AT&T subsidiary two years ago, Fox News reported. Crunchyroll currently has 70 million members who use the streaming platform, with over 3 million members paying a monthly fee. 

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