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Sony has announced that after months of negotiations, the acquisition of the Crunchyroll anime streaming service has been completed. The service joins the anime entertainment company Funimation as an official subsidiary of Sony.
The buyback is worth $ 1.175 billion, according to a press release. With its new resources, Crunchyroll can expand its reach by distributing its content through various Sony channels like PlayStation. Likewise, Funimation will also benefit from Sony’s bag of deep resources. It’s still unclear when the two anime streaming networks will ever merge.
Sony Group Corporation President, Chairman and CEO Kenichiro Yoshida said the company is delighted to welcome Crunchyroll to Sony.
“Anime is a rapidly growing medium that captivates and arouses excitement among audiences around the world,” Yoshida said. “The alignment of Crunchyroll and Funimation will bring us even closer to the creators and fans who are at the heart of the anime community. We look forward to delivering even more exceptional entertainment that fills the world with emotion throughout the world. ‘anime. “
Tony Vinciquerra, president and CEO of Sony Pictures Entertainment Inc., said the buyout adds “tremendous value to Sony’s existing anime business,” reiterating the company is keen to create the ultimate anime experience.
“With the addition of Crunchyroll, we have an unprecedented opportunity to serve anime fans like never before and deliver the anime experience on any platform of their choice, from cinema to events, home entertainment, games, streaming, linear TV – everywhere and in every direction fans want to experience their anime, ”said Vinciquerra. “Our goal is to create a unified anime subscription experience as soon as possible.”
While Sony’s goal appears to be to create a unified subscription experience, it remains to be seen how the acquisition of Crunchyroll impacts Funimation. However, with Sony now owning both networks, competition between streaming services for where to watch cartoons is slowly diminishing. It’s possible that Crunchyroll is either tied alongside Funimation or folded with the company, making its offerings all Funimation all the time.
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