Sony to Acquire Majority Stake in Funimation

Sony is strengthening its position in the anime market by acquiring a majority stake in Funimation, one of the biggest U.S. distributors of Japanese animated movies and TV series. The deal with Sony Pictures Television Networks has not closed yet and is subject to regulatory approvals, but the acquisition would value Funimation at about USD 150 million. The agreement will enhance Sony’s existing anime offerings, which include Animax. The acquisition comes at a time of significant change in the anime industry as distributors are learning how to co-exist with Netflix and Amazon, which have moved aggressively into the market. At the same time, Netflix and Amazon continue to partner with distributors such as Funimation by licensing some of their content.