AT&T Sells Anime Streamer Crunchyroll to Sony’s Funimation for $1.2 Billion

Move marks WarnerMedia's continued consolidation of streaming assets

Logos for Crunchyroll and Funimation
The deal will expand Sony's grip on the anime market while giving WarnerMedia a big cash injection as it invests in HBO Max. Crunchyroll, Funimation

AT&T has sold the subscription anime streaming service Crunchyroll to American anime distributor Funimation for nearly $1.2 billion as the media company looks to offload or rethink smaller streaming assets to double down on building out all-purpose streamer HBO Max.

@kelseymsutton Kelsey Sutton is the streaming editor at Adweek, where she covers the business of streaming television.