Sony is buying anime streaming service Crunchyroll from AT&T for $1.175 billion

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Sony will be buying anime streaming service Crunchyroll from AT&T for $1.175 billion, Sony and AT&T announced Wednesday. Specifically, Crunchyroll will become part of Sony’s Funimation, which already licenses many popular shows such as Attack on Titan, Fullmetal Alchemist, and One Piece.

Now that Sony owns both Crunchyroll and Funimation, the company has tremendous power over anime in the US at a time when many other media companies are trying to figure out their anime content. Netflix has also invested heavily in both licensing and producing its own anime content.

“We are excited to embark on this new journey,” said Joanne Waage, general manager of Crunchyroll, in a statement. “Crunchyroll…

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