Crunchyroll could be sold to Sony

AT&T is looking to sell anime streaming service Crunchyroll in an effort to pay off its debts. Chief among prospective buyers? Sony, owner of the competing service Funimation.

According to a report by The Information, AT&T has set its price at $1.5 billion but Sony has “balked” at this. AT&T are apparently offering Crunchyroll to other parties as well.

The sale of Crunchyroll would be the latest in a series of cost-saving moves by AT&T, which sold its stake in Hulu last year and was considering selling Warner Bros Interactive Entertainment in June 2020. The money would go some way towards lessening the company’s significant long-term debt, which was at $153.4 billion by the end of June. Seems like it’d be a drop in the ocean, however!

This development probably doesn’t bode well for AT&T, especially given the major layoffs that recently took place at Warner Media.

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