Sony buys animation company for $ 1.2 billion

Japan's leading electrical goods manufacturer Sony purchases anime streaming service Crunchyroll, a subsidiary of US-based AT&T, for $ 1.175 billion, Report says, referring to foreign media.

The deal will allow Sony Pictures Entertainment, the Sony subsidiary, to connect with Crunchyroll's 3 million paid subscribers in more than 200 countries. In this way, the company will be able to compete with global entertainment giants such as Netflix.