AT&T puts another 'for sale' sign up seeking $1.5B from Sony for Crunchyroll
The Information reports potential sale of 'anime' streaming service
AT&T is looking to sell anime streaming service Crunchyroll to Sony Pictures for $1.5 billion, according to a report by The Information.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| T | AT&T INC. | 16.58 | -0.23 | -1.39% |
| SNE | n.a. | n.a. | n.a. | n.a. |
Three sources familiar with the situation told the outlet that Sony is looking to buy Crunchyroll to complement its competing Funimation anime distribution platform.
The Information added that the $1.5 billion price tag is “well above recent values for other niche streaming services,” but noted Sony has “balked” at the asking price.
Both AT&T and Sony declined to comment to FOX Business on any potential discussions.
AMC NETWORKS FILES FCC COMPLAINT AGAINST AT&T, THINKS MEDIA GIANT IS TOO POWERFUL
The potential sale by AT&T would be the latest move to cut costs following massive layoffs that began at WarnerMedia this week in response to revenue from the WarnerMedia segment, which includes HBO, falling 22.7% to $6.8 billion in the second quarter, with the pandemic having a $1.5 billion impact on sales.
AT&T has also reportedly considered selling Warner Brothers' gaming unit to companies like Take Two Interactive, Electronic Arts and Activision Blizzard for $4 billion. In addition, WarnerMedia Chief Financial Officer Pascal Desroches told employees back in June that the company would be selling the CNN Center in Atlanta, according to Dallas News.
FOX Business also reported back in May that bankers are predicting AT&T will soon offload its DirecTV subsidiary due to the impact of the coronavirus pandemic and the company's high levels of debt.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Crunchyroll, which launched in 2006, was acquired by Otter Media in 2013. Otter, a joint video venture created by AT&T and Peter Chernin, became a full AT&T subsidiary two years ago. The streaming service has three million paid users around the world and over 70 million overall registered users.
