AT&T puts another 'for sale' sign up seeking $1.5B from Sony for Crunchyroll
The Information reports potential sale of 'anime' streaming service
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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. | 22.83 | +0.10 | +0.44% |
| SNE | NO DATA AVAILABLE | - | - | - |
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.
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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.
Bankers predicting AT&T will soon offload its DirecTV subsidiary: Gasparino
Sources tell FOX Business’ Charlie Gasparino changing economics due to the coronavirus lockdowns and high levels of debt could prompt AT&T to sell DirecTV.
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.
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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.
