Funimation has completed its acquisition of Crunchyroll, bringing two of the largest anime streaming services together under the banner of Sony Pictures Entertainment.
First announced back in December 2020, the deal is worth almost $1.2 billion, with Crunchyroll topping more than 5 million subscribers. In a release, Sony Pictures said the deal would provide an opportunity to "broaden distribution" and "expand fan-centric offerings for consumers."
"We are very excited to welcome Crunchyroll to the Sony Group," said Sony CEO Kenichiro Yoshida. "Anime is a rapidly growing medium that enthralls and inspires emotion among audiences around the globe. The alignment of Crunchyroll and Funimation will enable us to get even closer to the creators and fans who are the heart of the anime community. We look forward to delivering even more outstanding entertainment that fills the world with emotion through anime."
Sony's announcement follows reports that the U.S. Department of Justice was probing the deal for potential antitrust violations. The U.S. government reportedly wished to determine whether the deal would give Sony a monopoly over streaming anime. It's worth noting that other streaming services have been investing heavily in anime of late, particularly Netflix.
The deal was evidently able to pass muster with the U.S. government though, giving Sony a massive catalogue of anime shows. It's unclear whether Sony Pictures will seek to launching a new streaming service that combines the two.
Whatever happens, the anime boom isn't dissipating anytime soon. If you want some ideas on what to watch, check out our Top 25 best anime series of all time.
Kat Bailey is a Senior News Editor at IGN.