WarnerMedia to Sell CrunchyRoll
WarnerMedia, as part of parent company AT&T’s initiative to pay down debt, is looking to offload Crunchyroll for a price tag of at least $1 billion. This sale does not come as a surprise as parent company AT&T has been selling off assets for the last two years. AT&T sold its 10% share of Hulu last year for $1.43B. Long-term debt is now valued at $153.4B, primarily derived from the Time-Warner deal.
Crunchyroll is the massively successful American distributor, publisher, and licensing company of anime, manga, and drama. Sony Pictures Entertainment is in talks with WarnerMedia regarding the acquisition. Crunchyroll has roughly three million paid subscribers worldwide, and more than 70 million registered users worldwide. The subscription price in the U.S. is $7.99 for no-ads and they boast of having the most extensive anime library in the world with over 1,000 titles and 30,000 episodes. Earlier this year, they announced their first slate of originals. Currently, Crunchyroll is part of the Otter Media division at WarnerMedia, along with Rooster Teeth, Fullscreen, VRV, and interests in Reese Witherspoon’s Hello Sunshine and studio Gunpowder & Sky.