Sony Pictures TV to acquire majority stake in Funimation Productions
Sony Pictures Television Networks has reached an agreement to acquire a substantial majority stake in Japanese anime distributor Funimation Productions, Ltd., subject to regulatory approvals and certain other closing conditions, valuing the company at approximately $150M. Gen Fukunaga, CEO of Funimation, will retain a minority stake in the business and remain CEO. With a catalog that includes popular titles such as "Dragon Ball Z", "Cowboy Bebop", "One Piece", "My Hero Academia" and "Attack on Titan", Funimation licenses and distributes Japanese anime content in the U.S., and operates the subscription streaming service FunimationNOW, available via the PlayStation Store, iTunes Store, Google Play, Amazon Apps, Xbox Store and mobile devices. Additionally, the company sells merchandise and DVDs through its website, Funimation.com.