After months of rumors, the news is out: Sony’s Funimation Global Group is set to acquire AT&T’s Crunchyroll. The companies have agreed to a sale price of $1.175 billion — higher than the $975 million mooted in November, but lower than the $1.5 billion that the debt-laden AT&T reportedly sought to begin with. The price is subject to customary working capital and other adjustments, and will be paid in cash. The sale has not yet received regulatory approval. The sale represents a major consolidation of global anime streaming and distribution. Crunchyroll has three million SVOD subscribers and 90 million registered users across 200 countries; in addition to streaming, it produces originals, publishes news, hosts a forum, organizes events, and more. Funimation streams a catalogue of over 700 series across 49 countries, and has distributed and marketed 6 of the top 20 anime films in the U.S.