AT&T has been looking to raise cash through asset sales in order to reduce debt accumulated with the acquisition of Time Warner. Recent reports said the latest round of bids for its DirecTV satellite-TV service valued the business at over USD 15 billion.
Crunchyroll has over 3 million SVoD subscribers and serves 90 million registered users across more than 200 countries and territories. The service acquired by AT&T in 2014 provides AVoD, mobile games, manga, events merchandise and distributions. The combination with Sony's Funimation is expected to help broaden distribution for content partners and expand offerings for consumers.
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