Leading streaming news for Friday is a deal reportedly taking place that will have Sony (NYSE:SNE) buying Crunchyroll for $1 billion.
Here’s what investors need to know about the deal Sony – Crunchyroll deal.
- Crunchyroll is an anime streaming service with more than 70 million free users and 3 million paid users.
- The company was acquired by AT&T (NYSE:T) in 2018.
- Sony and AT&T have reportedly been in talks to seel the streaming service for some time now.
- The current reports claim that those negotiations are approaching a close that will have Sony buying Crunchyroll.
- These reports also say that Sony is going to pay $957 million to acquire the service.
- That could work out well for it as the company already has its hand in the anime industry.
- Sony makes some of its own animes and has been licensing them to streaming services.
- It also acquired Funimation, an anime dubbing and streaming service, in 2017.
- Combining those two streaming services could be good news for the company by helping it grow its place in the anime industry
- It also opens Sony up to challenging other streaming services, such as Netflix (NASDAQ:NFLX), with a wider variety of content.
- If the roughly $1 billion price tag for Crunchyroll is true, it means Sony has managed to talk AT&T down on its price.
- Previous news reports claimed that AT&T was looking to sell the anime streaming service to the company for about $1.5 billion.
SNE stock was down slightly as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.