Cleary Gottlieb is representing Funimation Global Group (Funimation), a subsidiary of Sony Pictures Entertainment, as antitrust counsel in its acquisition of Crunchyroll, AT&T’s anime streaming service, announced on December 9, 2020.
The enterprise value of the acquisition is approximately $1.175 billion, and is expected to strengthen Funimation’s international anime streaming services, complement its anime catalog, and build on its online streaming capabilities.
Funimation is a joint venture between Sony Pictures Entertainment Inc. and Sony Music Entertainment (Japan) Inc.’s subsidiary, Aniplex Inc.
Crunchyroll connects anime and manga fans across 200+ countries and territories with 360-degree experiences. Crunchyroll was founded in 2006 and is headquartered in San Francisco, with offices in Los Angeles, Tokyo, Paris, Lausanne, Chisinau, and Berlin (AV Visionen).
For more information, please see the press release here.