The merger is now complete. Funimation has successfully acquired the anime streaming service Crunchyroll in a massive $1.2 billion deal. The merger brings the two streamers under the Sony Pictures Entertainment banner just shortly after it was revealed that the U.S. Department of Justice was investigating for potential antitrust violations.
Back in December, it was revealed that Sony had been planning to acquire Crunchyroll in an effort to "broaden distribution" of anime content and "expand fan-centric offerings for consumers." The deal was finally made on Monday, August 9, resulting in what is seen as the biggest anime streamer merger in history.
Sony CEO Kenichiro Yoshida is understandably delighted with the deal.
"We are very excited to welcome Crunchyroll to the Sony Group," Yoshida said in a statement.
"Anime is a rapidly growing medium that enthralls and inspires emotion among audiences around the globe. The alignment of Crunchyroll and Funimation will enable us to get even closer to the creators and fans who are the heart of the anime community. We look forward to delivering even more outstanding entertainment that fills the world with emotion through anime," Yoshida concluded.
The merger gives Sony unlimited access to over a huge catalog of anime shows. Needless to say, the deal is timed perfectly now that anime is on the rise and looks far from slowing down.
Interestingly, the merger was completed shortly after it was confirmed that the U.S. Department of Justice was looking into the deal for potential antitrust violations. The investigation was reportedly started after the U.S. government allegedly wanted to check whether the deal would provide Sony with a monopoly over anime streaming.