A team of Pillsbury lawyers are representing AT&T on the sale of its Crunchyroll anime business to Funimation Global Group, LLC. The purchase price for the transaction is $1.175 billion, subject to customary closing conditions and regulatory approvals.
Crunchyroll is a premier anime direct-to-consumer service within AT&T’s WarnerMedia segment with more than 3 million subscription video on demand (SVOD) subscribers and growing. It serves 90 million registered users across more than 200 countries and territories offering advertising-based video on demand (AVOD), mobile games, manga, events merchandise and distribution. The combination of Crunchyroll and Funimation provides the opportunity to broaden distribution for their content partners and expand fan-centric offerings for consumers.
Read more about the transaction here.
The cross-office Pillsbury team representing AT&T was led by Corporate partners Nathaniel Cartmell III, Justin Hovey and Jarrod Murphy. Corporate senior counsel George Willman, senior associates Paul Casas, Clinton Jang and Caitlin Stulberg and associates Kendy Chan and Yanet Cordero; Tax partners Julie Divola and Brian Blum; Executive Compensation & Benefits partner Mark Jones and associate Ena Kaur; Data Privacy & Marketing partner Rafi Azim-Khan; Global Sourcing partner Mario Dottori and counsel Lee Rubin; and International Trade counsel Matthew Rabinowitz and associate Roya Motazedi were also heavily involved.