Sony to buy AT&T’s anime business for $1.18 billion to expand global footprint

TOKYO/NEW YORK: Sony Corp will buy AT&T Inc’s animation business Crunchyroll for $1.175 billion, the two companies said on Thursday, as the Japanese electronics conglomerate aims to beef up its entertainment content and distribution businesses.

The deal will give Sony access to Crunchyroll’s 3 million paying subscribers across more than 200 countries and regions, helping Sony compete more globally with entertainment giants such as Netflix.