Sony Pictures Television Networks announced on Monday that it has reached an agreement to acquire a substantial majority of US-based anime distributor Funimation Productions Ltd.

The company is set to acquire 95% of the equity interests in Funimation for approximately USD 143 million, subject to regulatory approvals and certain other closing conditions. Funimation CEO Gen Fukunaga will retain a minority stake in the business and his current position at the company.

In a statement, Andy Kaplan, president for Worldwide Networks at Sony Pictures Television said that the deal will allow them to “deliver the best anime to fans across all streams and platforms.”

Sony Pictures Television Networks operates channels which includes AXN, GemTV and anime satellite television network Animax.

Funimation is the #1 English-language anime content provider in North America and it has recently partnered with rival Crunchyroll in which certain anime titles will be made available on both streaming services.

 

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