Sony Pictures Television has reached an agreement to acquire 95 percent of Texas-based anime distributor Funimation Productions Ltd. for $143 million, according to a Securities and Exchange Commission filing.
Sony said in a statement Monday the acquisition is subject to regulatory approvals and other closing conditions. Funimation Chief Executive Gen Fukunaga will retain a minority stake in the business and remain in his current position at the company, which is a subsidiary of Dallas-based Group 1200 Media.
Sony said Funimation is valued at $150 million.
Funimation’s title catalogue includes “Dragon Ball Z,” “Cowboy Bebop,” “Attack on Titan" and other Japanese-made animated shows. Funimation distributes anime content and operates the subscription streaming service FunimationNOW.
“With the acquisition of Funimation, the combined IP of Animax, Kids Station and Funimation allows us to deliver the best anime to fans across all streams and platforms,” Andy Kaplan, Sony Pictures Television’s president of Worldwide Networks, said in statement.
Contact media and entertainment reporter Diane Haithman at firstname.lastname@example.org. Follow her on Twitter @dhaithman for the latest in L.A. business news.
Editor's note: This story has been updated to correct the price of the acquisition and other details based on an SEC filing.
Stories You May Also Be Interested In
- Randy Freer to Succeed Mike Hopkins as Hulu CEO
- Former Fox Exec Vinciquerra Replaces Lynton as Sony Pictures CEO
- DreamWorks Animation to Hire New CEO
- United Talent Agency Acquires Greater Talent Network
- BMG Production Music Acquires Immediate Music
- Entravision Communications Corp. Acquires Palm Springs TV Stations
- Mob Scene Makes Senior Exec Promotions
- Paramount Pictures Chairman Brad Grey Expected to Step Down